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Jul 28 - 07:55 AM

AUD/USD - Pivots 0.70 As Iron Ore Strength Underpins

By Rob Howard  —  Jul 28 - 05:40 AM
  • AUD/USD scaled fractionally fresh six-week peak of 0.7013 circa 0630 GMT

  • Ascent to 0.7013 influenced by iron ore gains to four-week high nL1N2Z90C1

  • 0.7012 was Wednesday's high, as post-Fed rise in risk appetite lifted AUD

  • China targets 1 trillion yuan in financing for cash-strapped developers - FT

  • See: nL1N2Z908R. Aussie June retail sales +0.2% vs 0.5% f/c nL1N2Z903T

  • U.S. Q2 GDP data due 1230 GMT; +0.5% forecast (Reuters poll) nL1N2YM1F1

Source:
Refinitiv IFR Research/Market Commentary

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