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Australian construction output fell 3.8% in the second quarter on a seasonally adjusted annualised basis, a fourth straight quarterly contraction and far worse than the 1% decline expected. The Australian dollar weakened after the data, and economists warned that Q2 GDP growth forecasts of 0.6% could be revised lower.
A weaker Aussie dollar and softer Australian growth reduce demand for commodity exports tied to Australian economic activity, and a weaker AUD makes Australian grain and meal exports more competitive on world markets.
poundsterlinglive.comJames SkinnerAug 28, 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.
