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The USD/AUD exchange rate rose about 0.5% after US consumer spending data for March matched forecasts at 0.4%. The gain also reflected expectations of further Fed hikes and higher US Treasury yields, while Australian Q1 inflation slowed.
A firmer US dollar driven by rate expectations weighs on dollar-priced commodities and supports US export competitiveness relative to Australia, a modest bearish pressure on grain and oilseed prices.
exchangerates.org.ukColin LawrenceApr 30, 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.
