AUD/USD is up 20 or so points from its lows late US time (US was on holiday).

Some news on China may be having an impact:

The local government in Tangshan met with representatives from steel makers

  • the outcome is a decision to ease capacity restrictions on sintering machines

And also that the emission reduction target for 5 firms is has been moved down to 30% from 50% and for another 15 down to 20%


Tangshan is a centre of steel production in China. Iron ore will be a beneficiary of these decisions and, hence, Australian exports.