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The Australian dollar rallied on Friday and extended gains at the open, testing 0.7125 after stronger-than-expected Chinese PMI data showed manufacturing expanding for the first time in five months. Sterling fell below 1.30 after UK lawmakers rejected the Brexit plan for a third time.
Signs of Chinese stimulus support commodity demand and risk appetite, which tends to lift commodity-linked currencies like the AUD and weigh on the US dollar, relevant to feed import costs for Australian buyers.
ofx.comMondayMar 31, 2019Not enough comparable past events yet for a historical read.
Not 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.
