News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/arxYmtQeUn https://t.co/rFlQtyQS81
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here: https://t.co/BPHuKecwnz https://t.co/73OmuCKfU9
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/KzhQnGiLyt
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/cuneuJNZlH
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here: https://t.co/d8Re5anlG5 https://t.co/danCiP5vqK
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/JhYoQ7I19K
  • The Nasdaq 100 index is aiming to breach a key resistance level at 14,950 for a second time. A successful attempt may open the door to further gains, although the MACD indicator flags signs of weakness. Get your equities forecast from @margaretyjy here: https://t.co/BEYupi32qB https://t.co/PWeXE8tZVY
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/t34kotPE8R
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/lM1OIJdjhr
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here: https://t.co/lZFM8youtX https://t.co/6qGEVjDlN6
Iron Ore to Rise Further as US Infrastructure Deal Aids Recovery Outlook: Q3 Top Trading Opportunities

Iron Ore to Rise Further as US Infrastructure Deal Aids Recovery Outlook: Q3 Top Trading Opportunities

Thomas Westwater, Analyst

Iron Ore, Global Economic Recovery, US Infrastructure Deal – Talking Points

  • Iron ore demand driving prices higher as global recovery ramps up
  • Pending US Infrastructure deal an additional tailwind for metals

See the favorite trades from each DailyFX Analyst for the third quarter. Download our new 3Q top trading opportunities guide from the DailyFX Free Trading Guides!

Iron Ore to Continue its Charge as US Infrastructure Deal Takes Shape

Iron ore prices may stretch higher as the global economic recovery chugs along. However, the industrial metal has seen a few road bumps on its journey higher. One of those being recent actions by China – including plans to release state reserves – in an attempt to cool off the quick appreciation seen in prices though H1 2021.

While actions by China have put some overhead pressure on price, the underlying demand drivers throughout the global landscape are likely to win out. One potentially major tailwind for iron ore is the infrastructure deal currently being negotiated in the United States. A deal between a bipartisan group of senators bolstered optimism for a near $1 trillion package.

While its ultimate fate remains unclear, the progress on Capitol Hill is a welcome development for industrial commodities. Given the recent progress, a bill hitting President Biden’s desk in the third quarter may be on the timeline. Along with a focus on roads, bridges, and airports, a component focusing on electric vehicles may also benefit the demand picture for metals.

The final deal is likely to look different, but the current specifics include $109.0 billion for roads, bridges, and major projects, $66 billion for rail, and $7.5 billion for electric vehicle infrastructure, according to a White House fact sheet. Moreover, Democrats are slated to push through a separate bill that could see additional funding go specifically towards green energy infrastructure. Combined with ongoing progress in the global reopening, iron ore prices are likely to continue rising.

Global Recovery Lifts Iron Ore Prices

iron ore

See the favorite trades from each DailyFX Analyst for the third quarter. Download our new 3Q top trading opportunities guide from the DailyFX Free Trading Guides!

--- Written by Thomas Westwater, Analyst for DailyFX.com

To contact Thomas, use the comments section below or @FxWestwateron Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES