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AUD/USD fell back below 0.7300 after US Markit PMI data beat expectations sharply, with manufacturing PMI jumping to 56.7 and services to 57.7. The dollar index rallied from about 92.00 toward 92.40 on the data.
Earlier the Australian dollar had also been pressured by new US hard-line measures against China.
A stronger USD against the AUD makes dollar-denominated commodity exports from Australia relatively less competitive, and a firmer dollar generally weighs on dollar-priced grain and oilseed markets.
octaafrica.netNov 23, 2020After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
