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The Australian dollar was sold against developed-market currencies after Westpac lifted mortgage rates. US Q2 GDP growth was revised up to 4.2%, and emerging-market currencies including the Turkish lira and Argentine peso came under pressure.
A stronger US economy and firmer dollar tighten financial conditions for emerging markets, which can curb their import demand for feed and grain. The Australian dollar weakness reflects domestic rate expectations.
macrobusiness.com.auHouses, HolesAug 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.
