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AUD/USD rallied from a December 23 low of 0.7160 to a January 24 high of 0.7609 while the Australia-US 10-year yield spread stayed near 0.34. The spread dipped to 0.30 after a weak Australian CPI release that raised odds of an RBA rate cut.
The analysis ties the Aussie to iron ore, gold and copper prices, so a drop in those metals would pressure the currency, with limited direct effect on feed commodities.
octaafrica.netJan 25, 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.
