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The two-year Australia-US yield spread narrowed to 45 basis points, its tightest since April 2001, reducing carry-trade demand for the Aussie dollar. The currency is tracking iron ore prices closely.
A weaker Aussie dollar tends to make Australian grain and barley exports cheaper, while iron-ore-linked currency moves reflect broader commodity sentiment.
macrobusiness.com.auHouses, HolesMar 28, 2017Not enough comparable past events yet for a historical read.
Not 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.
