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The Australian dollar rebounded in the second half of Friday's session after falling to 0.7937. US second-quarter GDP was revised as 2.6 per cent, slightly below forecasts, and first-quarter growth was revised down to 1.2 per cent.
A soft US wage reading pushed bond yields lower and weakened the dollar.
Lower US yields and a weaker dollar tend to support dollar-denominated commodity prices, though the effect is modest.
businessinsider.comJul 30, 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.
