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The Australian dollar fell to US73.22 cents on Monday, its lowest level against the US dollar since early June. The move continued a US dollar rally that followed Donald Trump's election victory.
Investors expect higher US government spending and rates, and Federal Reserve chair Janet Yellen signaled a December rate rise was increasingly likely.
A weaker Aussie dollar lowers the US-dollar cost of Australian grain and barley exports, while a stronger dollar tightens global commodity financing. Expectations of a December Fed hike support the US dollar and add downside pressure on dollar-priced grains.
theguardian.comMartin FarrerDec 1, 2016Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
