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The Australian dollar fell below 71 US cents after the RBA kept rates on hold and changed its statement to a more dovish tone. Analysts noted the omission of 3 per cent growth and a rewritten final paragraph that hinted at future rate cuts.
Markets now price a meaningful chance of rate cuts, which weakens the AUD and reflects softer Australian and China-linked demand outlooks. A weaker AUD can support Australian export volumes in commodities at the margin.
abc.net.auApr 2, 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.
