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The RBA held its cash rate at a record low of 0.1% and reiterated that rates would stay unchanged until 2024. Small adjustments to its quantitative easing program made markets read the decision as hawkish, and the Australian dollar jumped nearly 1% to 0.7599.
Markets priced some risk of a rate hike by late 2022.
A hawkish tilt strengthened the Aussie, which can make Australian dollar-priced exports costlier on world markets, though the effect on feed commodity prices is marginal.
reuters.comSwati PandeyJul 6, 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.
