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The Australian dollar rose above 78 US cents for the first time since June 2015 after a weaker-than-expected US consumer price index. Markets became less confident that the Federal Reserve would raise rates again this year.
The move was also supported by expectations that the RBA could tighten policy.
Expectations of slower Fed tightening weaken the US dollar, which supports dollar-priced commodities and changes the relative cost of imported feed ingredients for Australian buyers.
sbs.com.auJul 17, 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.
