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The Australian dollar fell sharply after worse-than-expected GDP growth of 2.8 per cent, its slowest annual pace in two years. ASX futures pointed to a modest rebound, and Brent crude traded near $61.70 a barrel.
Weak Australian growth and a softer currency reflect slower demand from a key Asian market, a mild negative for commodity demand and feed-related export prices.
abc.net.auDavid ChauDec 5, 2018Not enough comparable past events yet for a historical read.
After 54 past neutral macro events, Crude Oil (Brent) moved a median +0.4% over 5 sessions (57% higher; middle half -2.8% to +2.5%), and +0.6% 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.
