RBA Holds at 4.10% as Aussie Dollar Dances to Beijing's Iron Ore Tune

2026-10-31, FP360 — The Reserve Bank of Australia kept its cash rate at 4.10% for a fourth straight meeting, but the Aussie dollar slid 0.7% to 0.6420 as Chinese steel demand signals and a 3.2% weekly drop in iron ore prices underscored the currency's raw-material destiny. With the RBA sidelined, AUD/USD is now a pure play on Beijing's construction cycle and the global commodity pulse.

The Signal: AUD/USD remains a high-beta proxy for Chinese industrial demand; downside risks dominate unless Beijing unveils new stimulus.

---

Originally published on FINPULSE 360