Iron ore catches a bid, lifting Australian dollar

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It’s not clear why but it’s looking pretty excited:

There’s no news that I can find beyond some snippets from Brazil:

For the first five working days of February, soybean exports declined to 198,600 tonnes per day on average from 263,500 tonnes per day for February 2019, according to Economy Ministry figures. Iron ore exports averaged 1.27 million tonnes per day for the first week of February, down from 1.4 million tonnes per day a year ago.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.