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AUD/USD traded at 0.7544 on 6 April after a fall from 0.7749 as iron ore dropped from $89.40 to around $78.44. Iron ore is used as a proxy for Chinese economic health and steel demand.
The article notes that commodity prices are a key driver of the Aussie.
Iron ore weakness signals softer Chinese steel demand and can weigh on Australian export income. For feed buyers the link to grain and meal prices is weak.
en.octabroker.comApr 6, 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.
