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The Australian dollar held gains after official data showed Q3 business investment fell 0.5%, worse than the expected 1.1% rise, though the prior quarter was revised up. Estimated 2018 investment was upgraded to $114 billion, up 4.4% on 2017, while the AUD rose as Fed Chair Powell's remarks lifted risk assets.
A weaker AUD and firmer risk sentiment shape the currency backdrop for Australian-linked commodity exports, while the stronger 2018 investment estimate signals steady domestic demand. The effect on feed grain prices is indirect.
poundsterlinglive.comJames SkinnerNov 29, 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.
