A real-time indicator of export commodity prices
We have developed a real-time daily commodity price tracker modelled on the RBA’s monthly index of commodity prices. The tracker gives us a real-time indication of changes in the export commodity prices that are most relevant for Australia. Given the close fit with the RBA’s index – specifically the USD index using bulk commodity spot prices – the tracker suggests we could see a decline of ~6% in the RBA’s USD-terms June print due this week.
Read the full report: FX Daily