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Hedge funds have reduced their bets on the Australian dollar as iron ore, Australia's largest export, fell to a six-month low. Rising Chinese port iron ore stockpiles and expectations of a Fed rate rise in June have added to pressure on the currency.
Weak iron ore and a narrowing rate differential point to continued Aussie weakness, while rising Chinese stockpiles signal softer Chinese steel demand.
smh.com.auMichael G. WilsonMay 15, 2017Not 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.
