Iron-ore prices, traded on the Chinese Dalian Commodity Exchange (DCE), extends its three-day upbeat momentum on Wednesday, up nearly 2% to CNY 662 per tonne ($ 93). The bullish sentiment around the commodity is mainly driven by falling shipments from big miners and increased odds of further economic stimulus by China in a bid to combat deepening economic slowdown. The gains in the ferrous metal’s prices could keep the renewed uptick in the AUD/USD pair intact. The spot currently trades near-daily tops of 0.6864, helped by the Reserve Bank of Australia’s (RBA) comments. The RBA said in parliament earlier today that it’s unlikely it will need to employ unconventional monetary policy measures. It’s worth noting that iron-ore, one of Australia’s top exports, is seen correcting from a bear market seen end-August. AUD/USD Technical levels to watch FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin market update: BTC/USD briefly nosedives under $10,000 FX Street 4 years Iron-ore prices, traded on the Chinese Dalian Commodity Exchange (DCE), extends its three-day upbeat momentum on Wednesday, up nearly 2% to CNY 662 per tonne ($ 93). The bullish sentiment around the commodity is mainly driven by falling shipments from big miners and increased odds of further economic stimulus by China in a bid to combat deepening economic slowdown. The gains in the ferrous metal's prices could keep the renewed uptick in the AUD/USD pair intact. The spot currently trades near-daily tops of 0.6864, helped by the Reserve Bank of Australia's (RBA) comments. The RBA said in parliament earlier today… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
