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The Australian dollar weakened against the US dollar as Asian currencies fell after weak Chinese November inflation data showed the economy operating below potential. CPI declined 0.5% year-on-year, against expectations of a 0.1% drop.
Analysts expected a higher USD and US yields this week unless core US CPI undershot.
A weaker Australian dollar tends to encourage Australian grain and meal exports, though weak Chinese demand limits upside for feed prices.
forex.comDavid ScuttDec 11, 2023Not 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.
