{"id":18049,"date":"2021-08-20T07:01:56","date_gmt":"2021-08-20T05:01:56","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=18049\/"},"modified":"2021-08-20T07:01:56","modified_gmt":"2021-08-20T05:01:56","slug":"why-is-the-australian-dollar-falling","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/why-is-the-australian-dollar-falling\/","title":{"rendered":"Why is the Australian dollar falling?"},"content":{"rendered":"<table cellspacing=\"0\" cellpadding=\"4\">\n<tbody>\n<tr>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">Gold<\/span>\u00a0 1785,75<br \/>\n(<span style=\"color: #008000;\">+0,33%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">EURUSD<\/span>\u00a0 \u00a01,1687<br \/>\n(<span style=\"color: #ff0000;\">-0,09%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DJIA<\/span>\u00a0 34768<br \/>\n(<span style=\"color: #ff0000;\">-0,24%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">OIL.WTI<\/span>\u00a0 63,865<br \/>\n(<span style=\"color: #008000;\">+0,29%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DAX<\/span>\u00a0 15796<br \/>\n(<span style=\"color: #008000;\">+0,01%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n<p align=\"justify\">Lately the Australian currency has been looking noticeably worse than its commodity rivals the Canadian and New Zealand dollars. Is there a reason for that?<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nAUD\/USD<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-18050 aligncenter\" src=\"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2021\/08\/AUDUSD.png\" alt=\"AUDUSD\" width=\"600\" height=\"238\" \/><\/p>\n<p align=\"justify\">Australia&#8217;s main export commodity is iron ore, not gold as some people think. Iron ore prices have fallen by 30% in the last month and a half. The main buyer is China. And it is the culprit for this situation.<br \/>\nIn the spring of 2021, a number of Chinese steel producers have been ordered to cut production. To reduce their carbon footprint.<br \/>\nThe Chinese state also raised export duties on certain types of steel materials. Plus it cancelled discounts on cold-rolled steel. It turns out that the fall in iron ore prices is being driven by the government itself. Less production means less demand for ore.<br \/>\nHow long can this situation last? The profitability of producers, due to falling ore prices and rising prices for finished products, is at record levels. Naturally, it is in the interest of these companies not to reduce but to expand production.<br \/>\nAs soon as the Chinese government eases the pressure on the industry, the demand for iron ore will immediately increase. This will lead to a new upward trend.<br \/>\nFor now, from a technical point of view, things are very sad. And the nearest support is in the range of 0.7-0.705. If it is broken, especially on the background of the tightening of the monetary policy in the USA, an abyss awaits the Australian dollar below.<\/p>\n<p align=\"justify\">03.30 People&#8217;s Bank of China interest rate decision<br \/>\n08.00 UK retail sales for July<br \/>\n14.30 Canadian retail sales for June<\/p>\n<hr \/>\n<p style=\"text-align: center;\" align=\"justify\">Important Notes on This Publication:<small> <\/small><\/p>\n<p align=\"justify\"><small>The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice.<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold\u00a0 1785,75 (+0,33%) EURUSD\u00a0 \u00a01,1687 (-0,09%) DJIA\u00a0 34768 (-0,24%) OIL.WTI\u00a0 63,865 (+0,29%) DAX\u00a0 15796 (+0,01%) Lately the Australian currency has been looking noticeably worse than its commodity rivals the Canadian&#8230;<\/p>\n","protected":false},"author":37,"featured_media":17595,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-18049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Why is the Australian dollar falling? | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"Lately the Australian currency has been looking noticeably worse than its commodity rivals the Canadian and New Zealand dollars\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bernstein-bank.com\/en\/why-is-the-australian-dollar-falling\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why is the Australian dollar falling? 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