Iron Ore

Exit polls swung the Italian election result from apparently positive to apparently negative last night. Dow down 216. (Accessible only for subscribers before 10:15 AEDST)

Wall Street fluctuated wildly last night as everyone talked pullback: yes or no and if yes then by how much? Dow down 46. (Accessible only for subscribers before 10:15 AEDST)

The FOMC argued about rolling back QE3 at its last meeting, the minutes of which sent the US dollar surging last night. Dow down 108. (Accessible only for subscribers before 10:15 AEDST)

There appears to be no let-up in investor enthusiasm on either side of the Pacific. Dow up 53. (Accessible only for subscribers before 10:15 AEDST)

Brokers see support for coal prices, Australia moving well ahead of Brazil in iron ore, a little help for alumina prices and softer uranium.

Renewed market optimism bodes well for metal prices but will it last?

The G7 wants to publicly assure its commitment to market-determined exchange rates, which impacted on financial markets last night, for what it’s worth. Dow down 21. (Accessible only for subscribers before 10:15 AEDST)

The ECB joined the currency war last night, in talk rather than action, while Wall Street found it’s not that easy to pull back. Dow down 42. (Accessible only for subscribers before 10:15 AEDST)

The outlook for iron ore remains nervously positive, gold remains flat, oil to weaken a bit plus a roundup of energy plays ahead of reporting season.

Wall Street stalled last night and Europe contemplated its fate while the Japanese stock market is off to a flyer. Dow up 7. (Accessible only for subscribers before 10:15 AEDST)