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The Australian dollar outperformed major rivals after Westpac pushed back its forecast for a February RBA rate cut, joining ANZ and CBA in delaying easing to the second quarter. Market pricing for RBA cuts has risen, though a small chance of a February cut remains.
The stronger outlook followed a surprisingly strong December employment report.
Reduced expectations of RBA easing support the AUD, which can make Australian commodity exports more expensive in USD terms. The effect on feed buyers is modest and tied to currency-driven pricing.
poundsterlinglive.comJames SkinnerJan 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.
