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The Australian dollar rallied to about US$0.6840 after China signaled it would waive tariffs on some US soybean and pork shipments. US November non-farm payrolls also beat forecasts at 266,000 jobs.
China's tariff waivers on US soybeans and pork support US feed demand expectations, while the strong US jobs data lifts the dollar, a mixed signal for feed prices.
currencylive.comFiona CincottaDec 6, 2019After 123 past bullish macro events, Soybeans moved a median +0.3% over 5 sessions (60% higher; middle half -1.0% to +1.8%), and -0.4% over 20.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
