{"id":107185,"date":"2020-12-11T16:52:04","date_gmt":"2020-12-11T16:52:04","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=107185"},"modified":"2020-12-11T16:52:04","modified_gmt":"2020-12-11T16:52:04","slug":"105026-aud-usd-china-australia-relations-iron-ore","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105026-aud-usd-china-australia-relations-iron-ore\/","title":{"rendered":"AUD\/USD: China-Australia Relations, Iron Ore"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Wall Street closed mixed on Thursday amid slow progress in US stimulus negotiations on Capitol Hill. The Dow Jones and S&amp;P 500 ended modestly lower, while the Nasdaq Composite and Russell 2000 advanced.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, the United Kingdom\u2019s Brexit trade deal negotiations with the European Union were equally disappointing British Prime Minister Boris Johnson there is a \u201cstrong possibility\u201d of a no trade deal Brexit. The British Pound fell sharply given the economic impact of a hard Brexit.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Friday\u2019s Asia-Pacific Outlook<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the Asian session the Australian Dollar rallied to multi-year highs versus\u00a0 the US Dollar. The risk sensitive AUD trades almost 10% higher versus the Greenback year to date after vaccine developments boost risk sentiment. AUD has risen despite growing tensions with China, Australia\u2019s largest trading partner.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Chinese and Australian relations hit new lows however, the Australian Dollar is benefiting from strong iron ore exports to China as it ramps up stimulus-driven infrastructure spending.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Australia is the world\u2019s top iron ore producer. China\u2019s inventory levels continue to drop, suggesting that the nation may increase its imports further\u00a0 or risk facing iron shortages which could severely hamper its economic output.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Australian Dollar is positively correlated to iron ore prices. Higher prices in the commodity could lift Australia\u2019s economic growth through a growing trade surplus.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wall Street closed mixed on Thursday amid slow progress in US stimulus negotiations on Capitol Hill. The Dow Jones and S&amp;P 500 ended modestly lower, while the Nasdaq Composite and Russell 2000 advanced. Meanwhile, the United Kingdom\u2019s Brexit trade deal negotiations with the European Union were equally disappointing British Prime Minister Boris Johnson there is [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":3609,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1381],"tags":[],"class_list":{"0":"post-107185","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-aud","8":"category-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>AUD\/USD: China-Australia Relations, Iron Ore - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/105026-aud-usd-china-australia-relations-iron-ore\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105026-aud-usd-china-australia-relations-iron-ore\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105026-aud-usd-china-australia-relations-iron-ore\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"AUD\\\/USD: China-Australia Relations, Iron Ore\",\"datePublished\":\"2020-12-11T16:52:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105026-aud-usd-china-australia-relations-iron-ore\\\/\"},\"wordCount\":225,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105026-aud-usd-china-australia-relations-iron-ore\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100048-gbp-aud-tory-lead-poll-falls.jpg\",\"articleSection\":[\"AUD\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105026-aud-usd-china-australia-relations-iron-ore\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105026-aud-usd-china-australia-relations-iron-ore\\\/\",\"name\":\"AUD\\\/USD: China-Australia Relations, Iron Ore - 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