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The RBA minutes from its 4 April 2017 meeting say global economic conditions continued to improve, with strong growth in merchandise trade volumes. Demand from east Asia and the United States drove the gains.
GDP growth was expected to run above potential across the three major advanced economies.
Stronger global trade demand supports commodity export volumes from Australia and Asia, which can firm grain and feed demand. The effect is indirect and gradual.
rba.gov.auscheme=AGLSTERMS.AglsAgent, corporateName=Reserve Bank of AustraliaApr 4, 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.
