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Foreign exchange investors are betting that Australia's bushfires, which have burned an area the size of South Korea and killed 27 people, will hurt the economy. Some traders are short-selling the Australian dollar, targeting 0.6728 from around 0.6875.
Analysts expect tourism and spending to suffer and that the crisis could push the RBA toward rate cuts.
Bushfire damage and possible RBA easing both point to a weaker AUD, which lowers the USD price of Australian commodity exports. The effect on feed markets is indirect but relevant for buyers sourcing from Australia.
singapore.timesofnews.comTimes of NewsJan 13, 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.
