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.

 

 

20160406 AUDUSD 4H 20160406 AUDUSD Daily

 

 

2 thoughts on “6 April 2016 Commodity under pressure. Bloomberg commodity index CRY:IND down 6% from 176 to 165”

  1. Ryan Gandalf van Jaarsveld says:

    Thanks Dan!

  2. Artem says:

    Thank you. Nice analysis

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.