About Preços de Commodities (AUD)
Australia's commodity prices index tracks the value of a basket of key commodity exports or imports relevant to the Australia economy. It is closely correlated with the aud for resource-exporting economies.
Why FX traders watch it
For commodity-exporting economies (Australia, Canada, New Zealand), commodity price indices are among the strongest leading indicators for the aud. Rising commodity prices boost export revenues and the terms of trade.
How to interpret the data
Rising commodity prices are aud-positive for exporting nations. Falling commodity prices are a headwind for the trade balance and fiscal revenues, and can prompt central bank easing.