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The Aussie dollar rose to open near 0.6669 after President Trump said the US would sanction Chinese officials over Hong Kong, without mentioning the bilateral trade deal. Canadian GDP fell 7.2% in March and the CAD dropped against the USD.
China's May manufacturing PMI came in at 50.6, signaling a third straight month of expansion.
US-China political friction raises the risk that Chinese purchases of US farm goods slow, which is bearish for US soy and grain demand. The stronger AUD and weaker CAD mainly reflect currency flows rather than direct grain supply changes.
ofx.comMondayMay 31, 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.
