Commodity index for Australia
THE Commonwealth Bank of Australia (CBA) has launched a real-time commodity index that aims to predict currency movements.
CBA officials hope the index will predict 90% of the movements of the Australian dollar.
They want to use it as the industry standard for the effect of commodity prices on the currency.
The Australian dollar is strongly linked to moves in world raw material prices.
- Sydney plans electronic futures exchange, FWi, 02 February, 1999
- Australian commodities face reduced demand, FWi, 28 January, 1998
- Financial Times 24/03/99 page 36