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Commonwealth Bank economists keep forecasting a weaker Australian dollar, saying it could dip below US$0.70 in coming months. They cite a possible Fed bond-purchase taper, weaker Chinese growth, a negative Australia-US bond spread and falling commodity prices.
Markets reacted modestly to Jerome Powell's Jackson Hole speech.
A weaker AUD and firmer USD would generally pressure Australian-linked commodity prices in USD terms and shift export competitiveness. The impact on feed grain prices is indirect and modest.
commbank.com.auAug 1, 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.
