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ANZ analysis says iron ore and coal prices are increasingly driving the Australian dollar, overtaking interest rate spreads as the main swing factor. The note cites a narrowing current account deficit and broad US dollar weakness as supports for the currency.
The shift toward commodity-driven currency moves links Australian export earnings to global raw material prices, but the note is an analytical piece with no direct feed price impact.
anz.com.auNarayanan Somasundaram Economics, finance reporterAug 3, 2017Not 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.
