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The Australian and New Zealand dollars fell ahead of an expected aggressive Federal Reserve tightening signal. The Aussie traded near $0.7190, well below its recent four-month high.
Oil fell toward $100 a barrel on Iran deal hopes, and iron ore dropped on Chinese lockdown concerns.
Expected US rate hikes and softer iron ore and oil prices weigh on commodity currencies and dollar-priced exports. The move is a currency and macro story with little direct effect on feed prices.
brecorder.comReutersMar 16, 2022Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
