Wednesday, March 2, 2016

Possible Bottom in Steel


Too early to tell from this data but something to keep an eye on. Portends slight USD weakness near term.




3 comments:

Michael Norman said...

Well, I said this back in January.

Matt Franko said...

Right the tariffs again Mike... 200%+ tariffs put on steel imported to US about the time of this possible bottom...

Just like the oil you called bottom when China and iirc Argentina put the domestic taxes on the oil...

So these tariffs act to stabilize prices that are falling at least...

Something to study wrt a Trump presidency and he puts a bunch tariffs on product imported to the US... as far as forex implications... Trump tariffs will probably have some substantial forex implications...

Joe said...

20% jump in iron ore today