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Iron Ore to Give AUD/NZD Renewed Strength? -- Market Talk

15 Oct 2017 7:58 pm

1957 GMT [Dow Jones] The AUD/NZD could retest multi-week highs on Monday, but much depends on a continuation of Friday's rally by iron-ore prices and end to the political limbo in Wellington. The AUD/NZD is at 1.0994 early in Asia, with Westpac Institutional Bank talking up the potential for a rise above 1.1025. Renewed optimism around iron ore, Australia's top export, is fanning sentiment with prices of the commodity leaping 4.1% on Friday. Meanwhile, the New Zealand First party is due to meet today to discuss coalition proposals from National and Labour before making its mind up on the makeup of New Zealand's next government. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

October 15, 2017 15:58 ET (19:58 GMT)

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