In its latest report, Goldman Sachs cites expected weakness of iron ore, Australia’s key export, to weigh on AUD/USD prices in the next 12 months."In addition to potentially lower front-end pricing, weaker iron ore prices may weigh on AUD/USD. Despite their recent surge, our commodity strategists expect that iron prices will fall over the next 12," said Goldman.
That said, iron ore prices are on their way north to $200 after rising over 14% during the last month. The main catalysts could be China’s faster economic recovery and jumping vaccinations in the West.
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