Data out a little earlier 1 August
- commodity index AUD 114.4 vs 118.3 prev revised down from 119.5
- index SDR terms yy 17.1% vs 23.7% prev revised down from 25.0%
Softer indices as expected but it's not stopped the AUD going on a charge over that period.
Currently back down on fresh session lows of 0.7994 after the post-RBA fall and bounce.
Demand into 0.7980 the next big level with more bids/support behind that at 0.7950. Offers/res building around 0.8030 now.
Commodity Prices measures the change in the selling price of exported commodities. The commodity sector accounts for over half of Australia's export income.
Preliminary estimates for July indicate that the index decreased by 1.0%(on a monthly average basis) in SDR terms, after decreasing by 7.1% in June (revised). The decrease was led by declines in coking coal and LNG prices. Both the rural and base metal subindices increased in the month. In Australian dollar terms, the index decreased by 3.3% in July.
Over the past year, the index has increased by 17.1% in SDR terms, led by higher coal and iron ore prices. The index has increased by 13.4% in AUD terms.
Full report on commodity data from the RBA
