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The Australian dollar rose to 67.5 US cents on June 1, its highest since late January. Iron ore prices above US$100 a tonne and a softer US dollar supported the currency, while the ACCC opened a probe into Qantas's stake in Alliance Airlines.
Iron ore strength and a firmer Aussie reflect steady Chinese steel demand, which is a background signal for Australian commodity export pricing. The direct effect on feed markets is small.
abc.net.auDavid ChauJun 1, 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.
