# AUD/USD intermarket: what is iron ore's relationship with the Aussie currently? — Octa

> 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.

- Date: 2017-04-06 · published 2017-04-06T12:00:00.000Z
- Category: market · region Australia · magnitude low
- Page: https://feedsoft.ai/events/71767-aud-usd-intermarket-what-is-iron-ore-s-relationship-with-the-aussie-currently
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

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.

## Sources

- en.octabroker.com: https://en.octabroker.com/markets/news/view/428802/

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