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The Australian dollar broke down sharply on Thursday, falling toward the 0.67 level and testing a major support zone. The move reflects concern that coronavirus will slow China and the wider economy.
The analyst expects a rebound once virus fears ease.
A break below key support reinforces expectations of weaker Chinese demand, which can pressure Australian commodity export prices. The currency move also affects the USD cost of Australian grain and meal exports.
finance.yahoo.comChristopher LewisJan 30, 2020Not 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.
