Loading…
The Australian dollar tested new lows near 0.71 after comments from the Moderna CEO suggested current vaccines may be less effective against Omicron. It then fell further after Fed Chair Powell said faster tapering of asset purchases was appropriate and that inflation was no longer transitory.
Risk-off moves and a stronger US dollar tend to pressure dollar-priced commodities and weigh on Australian export currency. For feed buyers, a firmer dollar can lower import costs in local currency for some origins while softening farm-gate prices in exporting countries.
ofx.comWednesdayNov 30, 2021Not 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.
