SHANGHAI, Oct. 27 (SMM) – Economic figures from US will come under spotlight on Tuesday, citing US September’s durable goods orders and Conference Board CCI. And eyes will be on US Fed interest rate meeting. US September’s durable goods orders should fall 1.1% from August, better than the 2.3% slip in August.
US August’s ISM manufacturing PMI fell to 51.1, the lowest since May 2013, and slipped to 50.2 in September. August’s Markit manufacturing PMI unexpectedly dropped to 52.9, its lowest since October 2013 with final reading of 53 in August, but the PMI returned to 53.1 in September. Both factors will lead little support to durable goods orders. Overall, US dollar index will keep wary.
Crude oil prices slid continually currently and touched a 2-month low of USD 43.64/bbl overnight. Crude oil prices may further drag down base metal prices.