# The Australian Dollar: Iron Ore Price Rally Can't Save it from Further Losses says Westpac

> 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.

- Date: 2019-05-28 · published 2019-05-28T12:00:00.000Z
- Category: market · region Australia · magnitude low
- Page: https://feedsoft.ai/events/59349-the-australian-dollar-iron-ore-price-rally-can-t-save-it-from-further-losses
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

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.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/aud/11414-australian-dollar-supported-by-iron-ore-rally-but-westpac-cuts-forecasts-looks-for-three-rba-cuts

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