Loading…
The Australian dollar traded near 0.7983 after recovering from a low of 0.7936 on Friday. The US dollar weakened after US second-quarter GDP grew 2.6 per cent, slightly below expectations.
Traders expected the RBA to sound more hawkish about the currency's strength.
A softer US dollar on weaker US data supports dollar-priced commodities, while a firmer Aussie reduces Australian export competitiveness.
au.investing.comAxiJul 31, 2017After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
