SHANGHAI, Aug. 10 (SMM) – The number of US employment added 215,000 in July, with the growth staying above 200,000 for the third straight month. US unemployment rate and the Labor Participation Rate in July were both flat at the previous month. The number of unemployment for May and June was revised upwardly. This had initially bolstered the US dollar index, surging to 98. However, the US dollar closed with declines, with base metals price volatility up.
China’s July CPI rose 1.6% YoY to hit a new high for the year. The average CPI increased 1.3% January and July. The Execution Report of China’s Monetary Policy in Q2 released by the PBOC said China’s M2 growth is near annual target expected, and should accelerate in the foreseeable future. The PBOC predicts it will maintain steady monetary policy. China’s imports and exports in July both fell over 8%, meaning both domestic and overseas demand were sluggish.
European and US stocks fell across the board. Greek stocks market has fallen by daily limits. Crude oil prices continued to hit near-term lows. LME base metals prices surged but then fell back on selling pressure.