The Australian dollar strengthened to around $0.651 on Friday, recouping some losses in the previous session, as a surge in iron ore prices, driven by renewed optimism over Chinese economic support, lifted demand for the commodity-linked currency.
The rally in iron ore came as China's June import volumes hit a 2025 high, reflecting strong restocking demand and expectations of further policy support for infrastructure and property.
Traders grew more optimistic after Chinese authorities signaled fresh stimulus measures, including targeted credit easing and fiscal aid to boost construction activity, key drivers of Australia's iron ore exports.
At the same time, a pullback in the US dollar amid political pressure on the Federal Reserve further supported the Aussie. Still, the AUD is on track for its first weekly decline in four weeks, weighed down by mounting expectations of a Reserve Bank of Australia rate cut in August following soft labor market data.
Source: Trading Economics
The Australian dollar weakened to around $0.647, hitting its lowest level in eleven weeks. This decline continued as risk-off sentiment in global markets intensified, overshadowing the Reserve Bank of...
AUD/USD firms as traders brace for Australia Q3 inflation data and Fed decision The Australian Dollar (AUD) edges higher against the US Dollar (USD) on Tuesday, extending its winning streak for the f...
The Australian dollar (AUD) rose to around $0.656 on Tuesday, its highest level in nearly three weeks. This increase was primarily due to the weakening US dollar (greenback). US market participants aw...
The Australian dollar strengthened against the US dollar on Wednesday, recouping the previous session's losses. This boost came from comments by RBA Assistant Governor Sarah Hunter: recent data appear...
The Australian dollar (AUD) strengthened to around 0.6530 against the US dollar (USD) in the Asian session on Monday, after falling more than 1% in the previous trading session. This strengthening occ...
Oil prices fell more than 1% on Wednesday, settling at two-week lows on pressure from concerns of a possible global oil glut, but data showing signs of strong U.S. demand for fuel limited losses. Brent crude futures closed 92 cents, or 1.43%,...
European stocks closed slightly higher on Wednesday, tracking the rebound in North American equities as speculation on future AI returns continued to dictate risk sentiment. The Eurozone's STOXX 50 rose 0.2% to 5,670 and the pan-European STOXX 600...
Silver traded above $47.5 per ounce on Wednesday, snapping a three-day losing streak as global risk-off sentiment spurred demand for safe-haven assets. Global equities and other risk assets fell sharply amid concerns over stretched valuations and...
Asian stocks opened lower on Tuesday, reversing Wall Street's rally fueled by Amazon's massive $38 billion deal with OpenAI. Stock markets in South...
The economic activity in the United States' (US) manufacturing sector continued to contract in October, with the Institute for Supply Management's...
European stocks opened slightly higher in November, with the STOXX 50 and STOXX 600 gaining 0.2%, after closing near record highs in October....
Asia-Pacific markets declined on Wednesday, following a decline on Wall Street, which was driven by concerns about the valuations of artificial...