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Bloomberg reports the Australian dollar has not tracked falling iron ore prices, with strategists saying it should be weaker. Markets now price roughly a one-in-five chance the RBA cuts rates from 1.5 per cent in September.
The commentary points to a declining US dollar supporting the Aussie.
Iron ore and the Aussie are both commodity-linked signals, and a divergence between them can shift currency-driven export pricing. Direct impact on feed commodities is limited.
macrobusiness.com.auHouses, HolesApr 19, 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.
