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The Australian dollar was about 11 per cent undervalued against the US dollar on a Commonwealth Bank fair value model, the largest discount since the 2008/09 crisis. The bank attributes much of the discount to fears that the US-China trade conflict will escalate.
Currency weakness in a major grain and meat exporter can make Australian exports cheaper, while the trade-war concerns behind the discount signal lower global trade demand.
smh.com.auDavid ScuttDec 7, 2018Not 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.
