Australia AUD

Australia Commodity Prices YoY

Impact:
Low

Latest Release:

Date:
Surprise:
-1%
Actual:
-7.7%
Forecast: -6.7%
Previous/Revision:
-7.1%
Period: May

Next Release:

Date:
Forecast: -7%
Period: Jun
What Does It Measure?
Australia's Commodity Prices YoY measures the annual percentage change in the prices of a basket of major commodities produced and exported by Australia, including resources like iron ore, coal, and agricultural products. This indicator primarily focuses on production and price dynamics in Australia’s vital export sectors, reflecting the overall health of the economy and its dependence on commodity markets.
Frequency
This report is typically published quarterly and provides an annualized percentage change as a final figure, released about one month after the end of each quarter.
Why Do Traders Care?
Traders monitor Australia’s Commodity Prices YoY closely as fluctuations directly influence the Australian dollar (AUD), equity markets, and commodity investments. Significant increases in commodity prices are generally interpreted as a positive signal for economic growth and may lead to bullish market sentiment, while declines can provoke bearish reactions and concerns about economic stability.
What Is It Derived From?
The Commodity Prices YoY is calculated using data from the Australian Bureau of Statistics and reflects the price changes in a range of commodities based on export value. Price assessments are derived from various market transactions and adjustments for seasonal variations, ensuring a comprehensive overview of the market trends within a specific timeframe.
Description
The Commodity Prices YoY report provides a clear snapshot of how commodity prices have shifted over the previous year, enabling stakeholders to gauge the performance of Australia's export sector. The comparison against the previous year's prices helps eliminate seasonal effects and allows for a better understanding of long-term price trends and their implications on economic growth.
Additional Notes
This indicator is considered a coincident economic measure, as it correlates closely with the health of the global economy and trade dynamics. Moreover, changes in Australia’s Commodity Prices can significantly affect related indicators like the Trade Balance and Consumer Price Index (CPI), influencing monetary policy decisions.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
-7.7%
-6.7%
-7.1%
-1%
-6.1%
-5%
-7.2%
-1.1%
-6.5%
-8%
-8.9%
1.5%
-8.2%
-13%
-10.7%
4.8%
-11.9%
-11%
-10.7%
-0.9%
-10.7%
1.4%
-10.8%
-12.1%
-11.8%
-4.8%
-9.3%
-7%
-7.8%
-9.5%
-10.8%
1.7%
-10.1%
-1.2%
-6%
-8.9%
-5.2%
-2%
-4.1%
-3.2%
-3%
-3.6%
-3.5%
0.6%
-4.1%
-2.5%
-6%
-1.6%
-4.2%
-10%
-12.1%
5.8%
-11.6%
-13%
-14.9%
1.4%
-15.3%
-6%
-15.3%
-9.3%
-11%
-9%
-10.4%
-2%
-10.4%
-9.2%
-11.2%
-1.2%
-10.7%
-8.8%
-12.8%
-1.9%
-10.5%
-14%
-15.8%
3.5%
-16.8%
-21%
-21.3%
4.2%
-22%
-21.4%
-22.9%
-0.6%
-23.2%
-22%
-23.8%
-1.2%
-23.5%
-18%
-23.9%
-5.5%
-21.5%
-16.4%
-21.5%
-5.1%
-22.2%
-25.7%
-19.2%
3.5%
-19.2%
-12%
-6.9%
-7.2%
-9.1%
2.5%
4.7%
-11.6%
3.6%
10%
11%
-6.4%
10.6%
12.7%
14.2%
-2.1%
15.6%
15.1%
19.6%
0.5%
19.1%
18.6%
31.6%
0.5%
22.4%
27.6%
30.6%
-5.2%
30.6%
23%
21.7%
7.6%
21.7%
14.1%
14.1%
24.3%
24.3%
30.4%
30.4%
39.9%
39.9%
40.9%
40.9%
16.7%
16.7%
25.3%
25.3%
25.7%
25.7%
36.2%