Loading…
The Australian dollar rose near the top of the G10 table after iron ore futures in China jumped about 4% to around $108 per tonne, up 15% in May. Westpac still expects further AUD losses, forecasting three RBA cuts in 2019 and iron ore finishing the year near $90 per tonne.
Iron ore strength supports Australian export income and the AUD, but Westpac's forecast of weaker ore and more rate cuts points to a bearish currency outlook.
poundsterlinglive.comJames SkinnerMay 28, 2019Not 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.
