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Key Macroeconomic Indicators for Base Metal Prices (2015-7-3)
Jul 3,2015 10:22CST
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Source:SMM
The number of US non-farm employment released overnight increased 223,000, slightly lower than the average 225,000 expected by Market Watch’s economists.

SHANGHAI, Jul. 3 (SMM) – The number of US non-farm employment released overnight increased 223,000, slightly lower than the average 225,000 expected by Market Watch’s economists. Meanwhile, unemployment rate in June fell from 5.5% to 5.3%, its lowest since 2008’s spring. However, US factory orders in May decreased 1%, with the decline larger than the 0.5% expected. The number of US initial jobless claims for the week ending June 27 increased 10,000, with seasonally adjusted data up to 281,000, hitting a five-week high. Investors are cautious as the US market is closed today due to the Independence Day holiday. Besides, a referendum in Greece is also due this Sunday. The US dollar index dropped 0.19%.

Eurogroup President Jeroen Dijsselbloem warned should Greek referendum this Sunday vote no to its creditors’ plan, no additional negotiation will be implemented. China’s stocks markets have plunged recently, depressing market confidence. This fueled market expectations of additional stimulus measures from China.

London gold prices plummeted and hit a 3.5-month low. Crude oil prices dropped back, down 0.05%. European and US stocks mostly rose. LME nickel prices surged, and other LME base metals prices closed with small gains.
 

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