Loading…
Australia recorded its worst quarterly economic contraction on record as the coronavirus pushed it into recession. The Australian dollar fell 0.5% to around $0.7348 after the data, while the greenback rose on upbeat U.S. economic data.
A firmer dollar and a weaker Aussie reduce the purchasing power of Australian buyers and can soften Australian export commodity prices in dollar terms.
reuters.comEimi YamamitsuSep 2, 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.
