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The Australian dollar traded near 0.7392 against the US dollar after weaker-than-expected Australian private capital expenditure data, while Caixin China manufacturing PMI came in at 50.9. Oil prices rallied overnight and the currency remained in a minor recovery.
Stronger Chinese manufacturing data and higher oil prices support commodity-linked currencies, which slightly lowers the cost of Australian exports. The move is a routine technical update with limited feed-price impact.
octaafrica.netDec 1, 2016Not 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.
