A look at iron ore
Iron ore prices (light orange)have moved sharply higher helping lift the AUD today as well as positive COVID news.
If Iron Ore prices keep rising higher then expect that to further support the AUD. Around 20% of all Australia's exports are Iron Ore. Coal is the next highest export and those prices are already well elevated (dark orange line on the chart).
Remember that AUD is heavily sold. so a reversion to the mean is overdue. Any good news will be the perfect catalyst.
