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The RBA minutes from the 7 March 2017 meeting describe upward revisions to global growth forecasts and rising headline inflation in advanced economies, largely from higher oil prices. They also note China's 6.5% growth target and the PBOC signalling reduced monetary stimulus.
Stronger global growth supports demand for feed grains and meat, while a PBOC pullback could soften Chinese import demand and commodity prices.
rba.gov.auscheme=AGLSTERMS.AglsAgent, corporateName=Reserve Bank of AustraliaMar 7, 2017After 102 past neutral macro events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -3.3% to +2.5%), and +1.8% over 20.
After 54 past neutral macro events, Crude Oil (Brent) moved a median +0.4% over 5 sessions (57% higher; middle half -2.8% to +2.5%), and +0.6% 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.
