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Sep 30 - 07:55 AM

AUD/USD - Helped To 19-Month High By China Property Stimulus

By Rob Howard  —  Sep 30 - 05:40 AM
  • 0.6921 is low water-mark for AUD/USD since its Asian session rise to 0.6941

  • Rise to 0.6941 (19-month high) followed China property stimulus news Sunday

  • China stimulus news is boon for Australia's resources industry, and the AUD

  • Dalian iron ore up 10% today (iron ore is Australia's biggest export earner)

  • CFTC data: net AUD short fell 71% to 11,248 contracts in week ended Sept 24

  • Fed Chair Powell is due to speak in Nashville at 1755 GMT nL1N3LA03Z

Source:
Refinitiv IFR Research/Market Commentary

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