Higher AUD/USD on the session – rising iron ore price in China a tailwind

<p>Both the Australian and New Zealand dollars are higher on the session, as is CAD. </p><p>The commodity complex is being viewed more favourably. Iron ore specifically for the AUD, Dalian iron ore is around its 2 year high price, up 5% or so on the day.</p><p>The dissonance of course is that if takes a 2 year high for AUD to hit its highest since last week, and barely off its 2023 lows … well, don't rely on this for extended gains. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.