Iron Ore Price, page-8

Local shares are set to rise on a positive overseas lead with wage data to be released and results expected from Westfield, BC Iron and WorleyParsons among others.
What you need2know:
• SPI futures up 24pts at 5909
• AUD at 78.20 US cents, 93.00 Japanese yen, 68.97 Euro cents and 50.60 British pence
• In late trade, S&P 500 +0.2%, Dow +0.5%, Nasdaq flat
• In Europe, Stoxx 50 +0.8%, FTSE +0.5%, CAC +0.5%, DAX +0.7%
• Spot gold down $US1.48 or 0.1% to $US1200.35 an ounce
• Iron ore adds 0.9% to $US64.01 per tonne
• Brent oil down 25 US cents or 0.42% to $US58.65 per barrel

Morgan Stanley has retained its "overweight" recommendation on Fortescue Metals Group and a price target of $2.90 a share, but is keeping its attention firmly on the iron ore market

Currencies
Citi's global macro team expects the Australian dollar to fall to US70¢ in December of this year (average of US72¢ for 2015) and stay at US70¢ for the next year.

Commodities
ANZ Research is expecting oil prices to fall further, initiating a short WTI oil trade with a price target of $US43 a barrel. "We expect oil's rally to peter out as weakening fundamentals overwhelm the recent rally. The market appears to be becoming increasingly frustrated with the delay in supply cutbacks in the US despite the significant drop in drill rig activity."
Three-month copper on the London Metal Exchange jumped to a session peak of $US5846 a tonne, the strongest since January 13, and closed 2 per cent higher at $US5785. Prices have recovered since dipping below $US5400 to a 5-1/2 year low in mid-January,

European profits overall are still 30 per cent below their peak of 2008, however, while US corporate profits have rebounded to 30 per cent above their 2008 peak, Thomson Reuters Datastream data shows. "This gap is the biggest we've ever seen by a huge margin. Now it's going to start closing," said Jonathan Bell, chief investment officer at Stanhope Capital. "There's scope for a reasonable rebound in European earnings, which is one of the reasons why we're 'overweight' Europe equities."

Read more: http://www.smh.com.au/business/mark...to-roll-on-20150225-13nxci.html#ixzz3SicUDU8D

this World Wide Recovery will help lift IO demand + prices may Bottom now ..as China returns from holidays .