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The Australian dollar weakened as iron ore futures fell to near a three-week low on concerns about steel demand in China. Commonwealth Bank strategists said demand from China's infrastructure and property sectors could be faltering.
Iron ore is Australia's main export earner, so weaker iron ore prices pressure the Australian dollar and signal softer Chinese construction demand that can weigh on broader commodity sentiment.
poundsterlinglive.comNews, Data, ForecastsSep 17, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
