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The Australian dollar fell to 0.7677 on Friday, its lowest since early May, before recovering slightly. The decline was attributed to a stronger US dollar and a drop in iron ore futures, with the RBA meeting ahead.
A weaker AUD supports Australian export competitiveness for grains and barley, while the iron ore drop signals softer Chinese industrial demand.
ofx.comMondayMay 30, 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.
