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The Australian and New Zealand dollars rose to multi-year highs as the US dollar weakened broadly. Investors cited Covid-19 vaccine rollouts and additional US fiscal stimulus, and the article notes Australian iron ore earnings hit a record.
A weaker US dollar tends to support dollar-priced commodities, including grains and oilseeds, though the effect on feed prices here is indirect and modest.
brecorder.comReutersDec 30, 2020After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Not 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.
