AUD rising in early Asia trade - China easing some emission controls
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%
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Tangshan is a centre of steel production in China. Iron ore will be a beneficiary of these decisions and, hence, Australian exports.
