Key Macroeconomic Indicators for Base Metal Prices (2015-9-23)

SHANGHAI, Sept. 23 (SMM) – The US dollar hit a two-week high on growing market expectations that the Fed will raise interest rate later this year. Eurozone economy faces pressure. Brazil Real against the US dollar hit a record low due to concerns over a downshift in global economy, especially in emerging markets. The US dollar against currencies in emerging markets mostly rose. Global stocks markets plummeted. Commodity prices also tumbled, especially copper futures. API crude oil inventories for the week ending September 19 and Caixin’s September PMI for China slated for release today will rise volatility in crude oil, stocks and commodity prices.

European and US stocks markets plunged. Volkswagen shares dropped to a four-year low. The US dollar climbed 0.47% to 96.36 due to risk aversion.

Commodity prices fell across the board, with copper leading declines. Crude oil prices fluctuated wildly. Gold and silver prices tumbled.