Spot prices in the Iron Ore market have been falling very sharply in recent days, with decreasing demand out of China the main reason given. This could also have a negative effect on the AUD in coming months if this trend keeps up. Prices are down by 7% today alone and by up to 30% in the last 6 weeks.
Regional stockmarkets are -0.5% on average with the exception of Australia, which is slightly positive after today’s CPI numbers.
Gold is trading at $1716/oz, with the delayed EFSF encouraging safe-haven trades over the last 24 hours.
