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Montaka Global's Andrew Macken argues the Aussie dollar outlook has shifted to a more balanced or upside skew because the Fed paused rate hikes and slowed balance sheet runoff. He also points to a very large Chinese credit figure in a single month.
A weaker US dollar and stronger Chinese credit growth would support AUD and commodity demand, a mild bullish signal for raw materials priced in USD.
livewiremarkets.comMar 31, 2019Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
