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AUD/USD - AFR Report On China Iron Ore Rule Changes Weigh

By John Noonan  —  May 20 - 10:45 PM
  • AFR Click here on China changes to iron ore inspection procedure undermining AUD

  • AUD/USD below 0.6560/70 support and down around 0.65% on the day

  • AFR suggests changes could be used to block Australia iron ore exports

  • Reuters report on the changes doesn't draw that conclusion nL4N2D221H

  • Iron ore trader quoted in AFR said changes won't have a strong impact

  • Tension between China and Australia is potentially bearish for AUD/USD

  • The market is likely looking for excuse to pare back AUD/USD longs

  • Resistance at 200-day MA at 0.6662 and 0.7% fall in E-minis also excuses

aud/usd Click here

Refinitiv IFR Research/Market Commentary


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