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The Australian dollar fell below US70 cents to its weakest level in 18 months as markets digested a hawkish US Federal Reserve. The currency dropped 2.7% last week, its biggest weekly loss since August, ahead of the Reserve Bank of Australia meeting on Tuesday.
A stronger US dollar and weaker Aussie raise the cost of Australian-origin commodities for dollar-based buyers and can pressure export-linked prices like barley and wheat.
afr.comAlex GluyasJan 31, 2022Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
