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The Australian dollar fell about half a cent to just above 72 US cents as the US dollar strengthened on expectations of further Federal Reserve rate increases. US stocks rose, with the S&P 500 up 0.3 per cent, while Milan fell as much as 2 per cent on reports of a looser Italian budget.
A stronger US dollar and higher US rates tend to pressure dollar-denominated commodity prices and support demand for US-priced feed ingredients, while a weaker Aussie affects Australian feed import costs.
abc.net.auMichael JandaSep 28, 2018After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
