# Australian Dollar Downside Risks Build as Iron Ore Price Retreat: Crédit Agricole

> Crédit Agricole analysts warned that the Australian dollar's rebound could fade as iron ore prices pull back from a six-month high. They cited continued weakness in China's property sector, steel production quotas and Golden Week holidays. The bank linked recent AUD strength to the iron ore rally.

- Date: 2023-09-28 · published 2023-09-28T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/34383-australian-dollar-downside-risks-build-as-iron-ore-price-retreat-credit-agricole
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Iron ore is a major Australian export to China, and softer steel demand there weighs on Australian export earnings and the currency. For feed buyers, the link is indirect because iron ore is not a feed commodity.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/aud/19299-australian-dollar-recovery-jeopardised-by-iron-ore-price-retreat-credit-agricole

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.