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The Australian dollar dropped to a low near $0.6772 after weak Chinese industrial profit data showed a 9.9% fall in October. The pair later recovered as US GDP beat expectations and the dollar strengthened.
Weak Chinese industrial profits signal slower demand from Australia's largest trading partner, which can weigh on Australian export prices. A firmer US dollar also tends to pressure dollar-priced commodities.
currencylive.comFiona CincottaNov 27, 2019Not enough comparable past events yet for a historical read.
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.
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.
