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AUD/USD struggles to extend upside above 0.6550 ahead of US PCE inflation data

The AUD/USD pair struggles to extend its upside above the key level of 0.6500 during the European trading session on Friday.
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Iron ore gets a boost after report that China aims to cut steel output – ING

China will aim to cut steel production and curb new capacity between 2025 and 2026, according to Reuters. A planning document issued jointly by multiple Chinese ministries outlined proposals to reduce steel output, given excess supply and insufficient demand.
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