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Data from Reserve Bank of Australia. Forecasts by Sigmanomics Forecast Engine.
AustraliaAustralia RBA Non-Rural Commodity Price Index held to 112.31 in April 2026
Reserve Bank of AustraliaMonthlyReleased April 2026
Australia RBA Non-Rural Commodity Price Index held to 112.31 in April 2026.
Latest Release
112.308553
Actual
—
Consensus
112.308553
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| S&P/ASX 200 | ▼ Inverse | −0.76 | INDEX | Bearish S&P | → View |
| XAU/USD | ▼ Inverse | −0.58 | COMMODITIES | Bearish XAU | → View |
| S&P 500 | ▼ Inverse | −0.54 | INDEX | Bearish S&P 500 | → View |
| BTC/USD | ▼ Inverse | −0.49 | CRYPTO | Bearish BTC | → View |
| AUD/USD | ▼ Inverse | −0.43 | FOREX | Bearish AUD | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
RBA Non-Rural Commodity Price Index (Australia) was reported at 112.31 (index) in April 2026. The reading was unchanged from the previous release. Over the past 12 months, the indicator has averaged 102.92 (index), ranging from 95.51 (index) to 112.31 (index) across 12 releases. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 111.86 (index), up from the prior three at 104.87 (index). Volatility over the past year (σ 6.34 (index)) is higher than the prior year (σ 2.74 (index)). In April readings over the past 3 years, RBA Non-Rural Commodity Price Index has averaged 104.44 (index).
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with S&P/ASX 200 (Bearish S&P). A secondary relationship exists with XAU/USD, negatively correlated (Bearish XAU).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Construction Work Done QoQ (May 27) and Inflation Rate YoY (May 27).
Auto-generated from current model state · Refreshes on each release · Last update April 2026.
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RBA Non-Rural Commodity Price Index - AU
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About RBA Non-Rural Commodity Price Index — Australia
DEFINITION
Australia's RBA Non-Rural Commodity Price Index for April rose slightly to 112.308553, marginally above March's 112.253144. The index shows a near-flat trend, indicating stable commodity prices after steady gains since January. Market focus remains on upcoming inflation data and RBA policy signals amid this subdued price movement. Updated 5/2/26
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2026): actual 112.3 Index. Prior reading (Mar 2026): 112.3 Index. Before that (Feb 2026): 111 Index.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with S&P/ASX 200 (Bearish S&P, r=-0.76) — a useful reference for index-focused traders.