According to Sean Callow, Research Analyst at Westpac, there was cause for optimism over the Australian dollar early this week as China’s return from a week-long holiday meant a resumption of benchmark iron ore prices. Key Quotes “Less helpful though for AUD/USD’s attempt to rally from 32 month lows near 0.70 was the poor sentiment in Chinese equities. This was a background concern for AUD but equity weakness was much harder to ignore when US markets posted their largest losses since February.” “With specs already short, AUD/USD at least has the fuel for a rally if global conditions improve near term. If not however, there is little in the way of the 0.69 handle, especially with AUD potentially still suffering a little from domestic political uncertainty ahead of the 20 October byelection that could produce a minority government.” 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 Irish PM Vardakar: A November Brexit deal may not be possible FX Street 4 years According to Sean Callow, Research Analyst at Westpac, there was cause for optimism over the Australian dollar early this week as China's return from a week-long holiday meant a resumption of benchmark iron ore prices. Key Quotes "Less helpful though for AUD/USD's attempt to rally from 32 month lows near 0.70 was the poor sentiment in Chinese equities. This was a background concern for AUD but equity weakness was much harder to ignore when US markets posted their largest losses since February." "With specs already short, AUD/USD at least has the fuel for a rally if global conditions improve near… 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.
