Economy
January 6, 2015
Currency Update for Steel Trading Nations
Written by Peter Wright
The value of the U.S. dollar is having a major impact on commodity, scrap and steel pricing. The strengthening of the dollar is something that Steel Market Update is watching very closely. We are therefor going to increase the number of times we provide currency updates from once per month to every three weeks (and maybe two weeks if necessary) in order to keep our readers abreast of the changes. The following article is written by contributing writer, consultant and Steel 101 instructor – Peter Wright.
The currency markets continue to be dominated by a strengthening dollar and a weakening of third world currencies in particular. Based on the daily Federal Reserve Broad Index value of the US $ against our major trading partners we see a strengthening trend that has existed for the last three and a half years. The Fed reports a daily nominal, (non-inflation adjusted) index and a monthly real, (inflation adjusted) index.
