Loading…
Reserve Bank of Australia Assistant Governor Christopher Kent gave a speech on FX markets around the turn of the year. He discussed the decline of the Australian dollar swap basis to negative levels at short tenors during 2020 and a change in how the RBA uses FX swaps.
The story concerns central bank funding mechanics rather than commodity supply or demand, so its direct effect on feed prices is minimal. It mainly signals policy stance toward the Australian dollar.
rba.gov.auscheme=AGLSTERMS.AglsAgent, authorName=Kent, ChristopherFeb 17, 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.
