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The Reserve Bank of Australia kept its cash rate unchanged at a record low of 1.5 percent at its November 1 meeting and offered no explicit easing bias. Interbank futures priced a one-in-three chance of a cut next year, down from one-in-two previously.
The Australian dollar firmed to about $0.7655 afterward.
A firmer Australian dollar makes Australian grain and oilseed exports less competitive and raises the cost of Australian barley and sorghum for feed buyers. Lower odds of rate cuts point to a modestly stronger currency.
reuters.comNov 1, 2016Not 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.
