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Analysts cited rising US 10-year yields above 3% and record short US dollar positioning as reasons the dollar could rally further. ANZ forecasts the Aussie falling to 72 US cents by year-end, and MacroBusiness sees 70 cents as China slows and terms of trade weaken.
Expected AUD weakness and a stronger dollar would reduce the dollar value of Australian commodity exports and tilt global commodity prices lower in USD terms.
macrobusiness.com.auHouses, HolesApr 30, 2018After 2,356 past bullish macro events, DXY 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.
