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Australian banks forecast the Australian dollar could climb to between 78 and 82 US cents, driven by iron ore prices, Chinese steel demand, and a weaker US dollar. The currency is at a 2.5-year high of about 76 US cents despite the pandemic.
A stronger Australian dollar makes Australian grain and barley exports less competitive, which can modestly support prices for competing origins.
abc.net.auDavid ChauDec 22, 2020Not enough comparable past events yet for a historical read.
After 57 past bullish macro events, Wheat (SRW) moved a median +0.3% over 5 sessions (65% higher; middle half -0.5% to +1.7%), and -0.7% over 20.
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.
