The commodity index CRY was down in the last 2 weeks. It has a down pressure on the commodity currency like AUD .Yesterday Reserve
Bank of Australia decided that the current setting of monetary policy remained appropriate The cash rate remained unchanged at 2%.
But As at 5 April, the ASX 30 Day Interbank Cash Rate Futures May 2016 contract was trading at 98.075, indicating a 33% expectation of an interest rate decrease to 1.75% at the next RBA Board meeting . up from 7% before RBA rate decision.
AUD has reach the daily 21 , technically it might go up then come down to full filled the downward pressure on the commodity currency.
FOMC meeting minutes releases on 7 April would altered the AUDUSD pair. and next day Fed chairman Janet Yellen speaks could effect the Dollar Pair.
2 thoughts on “6 April 2016 Commodity under pressure. Bloomberg commodity index CRY:IND down 6% from 176 to 165”
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Thanks Dan!
Thank you. Nice analysis