• English
    • Deutsch
    • Italiano
    • Español
    • Polski
    • 中文
    • العربيّة
    • Русский
  • Syncronize time

    If the syncronized time does not match with the time of your computer, configure the paramenters of summer time and time zone. All times in the site will be translated to your local time.

+357 25 030 930
+357 25 030 930
  • Client Area

Australian dollar up on Iron ore

Open demo account
FOREX trading implies serious risk and can result in the loss of your invested capital

Financial and commodity markets analytics

The Australian dollar has continued to rise today on the back of Iron ore prices but many are starting to now question how long the rally can last.

Since Monday Iron ore has risen by over 20 percent and now some are predicting the price of Australia’s biggest commodity is being driven by sediment rather than by fundamentals, and especially after yesterday’s distavorous trade figures out of China which confirms problems appearing in the world’s 2nd largest economy.

"The iron ore and steel markets have gone berserk -- they've departed from fundamentals and are heavily driven by sentiment," Zhao Chaoyue, an analyst at China Merchants Futures Co. in Shenzhen, said before the Metal Bulletin price was published.

"Investors are expecting further monetary easing by the Chinese government to boost steel demand." He added.

Drivers for the Aussie dollar tomorrow include the latest consumer Inflation expectation index as well as key data out of China which includes the producer price and consumer price indexes.

The material published in on this page is produced by the FIBO group companies, and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

IMPORTANT: Please be informed, that our services are available for Professional Clients only. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.