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Key Macroeconomic Indicators for Base Metal Prices (2015-8-18)
Aug 18,2015 11:03CST
price review forecast
Source:SMM
Major reports were absent on Monday night.

SHANGHAI, Aug. 18 (SMM) – Major reports were absent on Monday night. US FHFA’s house price index for August stood at 61, its highest since November 2005, above July's and on par with forecast. A strong recovery in US housing market may push US economy to turn better, sending dollar to move at highs. Stronger dollar weighed on commodity prices.

The flash data of Japan’s annualized quarter-on-quarter GDP for Q2 declined 1.6%, ending the rising momentum for two quarters. Slipping expenditure from customers and enterprises explained the drop in Q2’s economy. Economists cut Japanese mid-term economy growth expectation by 1.8%.

A powerful explosion killed at least 19 people in Bangkok’s central shopping district on Monday night. Turkey has declared a curfew for citizens of Lice, a district of Diyarbakir province. Those factors may push US dollar up and send down currencies prices of emerging market.

China's 3,785 enterprises will have to cut production or halt operation due to the Sep. 3 parade in Beijing. As a result, commodity prices will be weighed down considering weak demand for commodities.

US dollar index edged up 0.25% while EUR:USD fell 0.28%. US stocks increased but European stocks were mixed. LME base metals all fell except LME tin and nickel.

 

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