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The Reserve Bank of Australia cut its cash rate by 25bp to a record low of 1% on July 2, but the Australian dollar barely moved and traded near US69.94 cents. Strong commodity prices, market positioning and dovish moves by other central banks offset the cut.
A resilient Aussie despite RBA easing keeps Australian export prices firm for commodity buyers, and limits any currency-driven boost to Australian grain and meat competitiveness.
afr.comSarah TurnerJul 3, 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.
