Iron Ore

Nickel pricing strength is growing, bulks are feeling the supply glut and gold is holding a range.

In thin trading, the knocked down US techs and small caps again staged a rebound rally last night. Dow up 20. (Accessible only for subscribers before 10:15 AEST)

Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.

Ongoing strength in US bonds and last night’s weak eurozone GDP has accelerated the flight to safety as global growth forecasts are questioned. Dow down 167. (Accessible only for subscribers before 10:15 AEST)

Thermal coal will remain under pressure; merger and acquisition deals and speculation heat up Australia’s resources sector; Mt Gibson Iron evaluated.

US bond yields fell sharply last night despite US wholesale inflation showing a surprise gain. The world remains confused. Dow down 101. (Accessible only for subscribers before 10:15 AEST)

The ASX 200 is back at 5500, the budget held no great surprises, and Wall Street paused last night at its highs. Dow up 19. (Accessible only for subscribers before 10:15 AEST)

Time to become overweight in miners? Do commodity prices matter more than volume to Australia’s economy? Gold remains subdued while nickel adjusts to Indonesian bans.

Michael Gable of Fairmont Equities notes a critical technical level for Fortescue which may suggest a bounce is due.

Sharp rebounds in the Nasdaq and Russell 2000 turned potential pullback into a new S&P high last night. Dow up 112. (Accessible only for subscribers before 10:15 AEST)