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Mar 01 - 07:55 AM

AUD/USD - Hugs 0.65 As Iron Ore Falls For Second Week

By Rob Howard  —  Mar 01 - 06:05 AM
  • AUD/USD has traded a 26 pip range thus far Friday; 0.6488-0.6514

  • 0.6487 was Thursday's two-week low. Iron ore falls for second straight week

  • Iron ore is Australia's biggest export earner. China mfg PMI 49.1, as f/c

  • 0.6531 (Thursday top) and 0.6550 are AUD/USD resistance levels beyond 0.6514

  • Citi went short AUD/NZD on Wednesday (post-RBNZ), with stop set at 1.0825

  • RBNZ deputy governor says policy needs to stay restrictive for some time

Source:
Refinitiv IFR Research/Market Commentary

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