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Dec 10 - 05:55 PM

AUD/USD - Breezes Past Resistance As Iron Ore Surges To Record

By Krishna K  —  Dec 10 - 05:30 PM
  • AUD/USD opens 1.2% higher, lifted by strong rally in iron ore & commodities

  • Prices of Chinese iron ore futures leap to contract high of almost 1000 yuan

  • Add to Thursday's gains of more than 7% nL1N2IQ0EJnL4N2IP18A

  • LME copper surges to highest since 2013, Brent rallies above $50 a barrel

  • Strong demand for AU govt debtnL4N2IQ0JS, economic recovery hopes support

  • Sino-AU tensions may slow but not reverse rally nL1N2IQ04QnL4N2IQ0ZK

  • Rally targets 0.7638, 38.2% of 2011-20 drop; support 0.7485-90, 0.7450-55

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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