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AUD/USD fell about 0.9% intraday on October 28, 2020, after a sudden wave of risk aversion. The selloff followed EU warnings about the second COVID-19 wave and reports of new French lockdowns.
The pair dropped below 0.7060 after a brief lift from Australia's Q3 trimmed mean CPI reading.
Risk-off moves strengthen the USD and can pressure commodity prices priced in dollars. The effect on feed grain and meal prices is usually small and short-lived.
investingcube.comEno Eteng (DipTA, MSTAOct 28, 2020Not enough comparable past events yet for a historical read.
After 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.
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.
