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Commonwealth Bank of Australia analysis says the Australian dollar is about 10% undervalued against its estimated fair value of 0.79 USD, while it trades near 0.70. CBA forecasts only a fraction of that gap will close over the next 18 months, citing a narrowed current account deficit, a five-year high in the RBA commodity price index, and a low interest rate spread.
A currency view like this shapes expectations for Australian export competitiveness and commodity pricing in USD terms. The forecast implies only a gradual AUD recovery, so the near-term effect on feed-grade commodity prices is limited.
poundsterlinglive.comJames SkinnerJun 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.
