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CIBC analysts said the Australian dollar has increasingly followed interest rate spreads rather than commodity prices. They noted that recent commodity support has come from supply constraints rather than demand.
They added that improved global sentiment could help commodities if demand rather than supply drives prices.
The analysis suggests commodity-linked currencies may be less responsive to commodity price moves, which affects how export competitiveness shifts. Its direct effect on feed prices is limited.
forexcrunch.comFX StreetOct 4, 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.
