# Aussie, kiwi spring back - Business & Finance - Business Recorder

> The Australian and New Zealand dollars recovered on Friday after a sharp overnight slide, with the Aussie holding near $0.7667 and the kiwi near $0.7165. Both currencies were still down for the week, and the Aussie fell as iron ore prices dropped on Beijing's plans to restrain steel production.

- Date: 2021-01-29 · published 2021-01-29T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/49407-aussie-kiwi-spring-back-business-and-finance-business-recorder
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Weaker iron ore and Chinese steel curbs signal softer Chinese industrial demand, which can weigh on the commodity-linked Aussie dollar. For feed buyers, this has little direct effect on grain or meal prices.

## Read by commodity

- AUDUSD: neutral

## Sources

- brecorder.com: https://www.brecorder.com/news/40057864

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