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Shane Oliver argues the Australian dollar may be near its low, citing weaker Australian growth, high labour underutilisation, the housing downturn and drought. He expects the RBA to cut the cash rate to 0.25% and possibly start quantitative easing without more fiscal stimulus.
A weak Aussie dollar supports Australian grain and meat export competitiveness, but drought conditions reduce Australian crop supply, which can support global feed grain prices. The analysis is a forecast rather than a new supply event.
livewiremarkets.comShane OliverNov 26, 2019Not 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.
