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ANZ analysts say the Australian dollar has not responded to strong commodity prices because the usual channels from resource prices into the domestic economy have weakened. They view a sustained AUD recovery as dependent on a substantial shift in China's growth path, which they see as unlikely.
Commodity price strength is not translating into a stronger AUD, which limits the currency-driven boost to Australian export pricing. This weakens the usual link between Australian export income and commodity prices.
octaafrica.netJun 17, 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.
