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The Australian dollar reached a two-year high of US$0.736 as the US dollar continued to fall after the Federal Reserve said it would let inflation run above 2 per cent and keep rates at record lows. A market analyst noted that Australian stocks have diverged from the US market.
Key local events this week include the RBA meeting and GDP data.
This is routine market commentary on currency moves driven by Fed policy, with no new supply or demand shock for feed commodities. The price implication is limited to currency translation effects on imports.
belldirect.com.auJessica AmirAug 30, 2020Not enough comparable past events yet for a historical read.
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.
