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The Australian and New Zealand dollars paused a multi-week rally as commodity prices cooled and Antipodean bond selloffs eased after the RBA intervened to defend its yield target. The Aussie traded near 0.7472 after news that China Evergrande would avoid default and that a Melbourne lockdown had ended.
The pause in the Aussie rally is seen as a rebalancing rather than a new trend, so the currency offers limited near-term signal for Australian export pricing of grains and oilseeds.
brecorder.comReutersOct 22, 2021Not 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.
