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The Australian dollar fell to its lowest level in over a month, hitting 0.6818 per US dollar, as bushfires and the coronavirus outbreak raised economic concerns. Goldman Sachs estimated the bushfires could subtract 0.4% from GDP in the near term.
Morgan Stanley and Bank of America reported risk-off sentiment across Asian markets.
Bushfire damage and a weaker China outlook both weigh on Australian growth and currency value. A softer AUD lowers the USD cost of Australian exports, including grain and meal.
markets.businessinsider.comGwen EverettJan 24, 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.
