Between the Reserve Bank of Australia and New Zealand monetary policy announcements along with Canada’s IVEY PMI and employment reports, this is an important week for commodity currencies. AUD, CAD and NZD have performed well thanks to a variety of factors. The best performing currency was the Australian dollar, which rose more than 1% against the greenback after the Reserve Bank left interest rates l and suggested they won’t be easing again any time soon. While the RBA saw the strong A$ as a complication for inflation and the economy, they felt the current level of monetary policy is consistent (we interpret that to ... (full story)