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Forex.ca reports the Australian dollar is bearish ahead of the RBA meeting, citing weak PMI data that fell to 45.3 and above-target CPI. The article notes the RBA may reduce or end its asset purchase program, with a rate hike not expected until around June.
A hawkish RBA shift would support the Aussie and reduce the cost of Australian exports, while the outlook for Australian wheat and other commodity exports depends on currency and demand conditions.
forex.caadminJan 29, 2022Not enough comparable past events yet for a historical read.
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.
