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Jul 25 - 06:55 AM

AUD/USD - Rises To Intra-Day High As Iron Ore Soars

By Rob Howard  —  Jul 25 - 04:50 AM
  • AUD/USD climbs to 0.6942 (intra-day high) as iron ore soars: Dalian up 7.1%

  • See: nL1N2Z60DM. Iron ore is Australia's biggest export earner

  • 0.6878 was Asian session low nL1N2Z6058. 0.6976 was one-month high Friday

  • Friday's high was posted after USD weakened on sub-50 U.S. service PMI

  • See: nL1N2Z31AP. Fed rate decision Wednesday; 75 bps hike f/c nL8N2Z61HB

  • Australian Q2 inflation data is also due Wednesday nL1N2Z60C8nL1N2Z6010

Source:
Refinitiv IFR Research/Market Commentary

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