My forecast is iron ore prices will stay roughly where they are for the time being, stumbling along between the low 50 US Dollar and low 60 US Dollar range. There might be some small spurts here and there but it won’t get back to where it was.

This only really influences the global metal recycling prices when iron ore gets around the low 50 US Dollar mark, which is where it is now and is starting to be competitive with scrap metal prices.

I also believe oil prices will stay reasonably steady about where they are now.

However, the Australian Dollar, in my own personal opinion, is set for a bit of a ride. It is weak in the low 70 US Cents, but the upcoming US Election is likely to have an impact by early next year.

When the US Election is over late in the year, it doesn’t really matter who gets in, but the US Dollar will go down as a result.

I then forecast that the Australian Dollar will rise. I predict it will reach the high 70 US Cents, early 80 US Cents, maybe even a bit more, by January-February 2017, unless there are unforeseen circumstances such as war, natural disasters etc.

www.toddwanless.com

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