SHANGHAI, Dec. 4 (SMM) – The market expects US Federal Reserve to raise interest rate in December unless US non-farm payrolls turn out to be very disappointing. The growth in US salaries in November is also the focus of markets. Should US salaries continue to increase in November, the likelihood of Fed rate hike will grow.
Nonetheless, US inflation rate remains low as PCE goods price index has fallen short of growth target for 42 months in a row.
No OPEC member country is expected to announce output cut plan at the meeting in Vienna. Venezuela has warned that international crude oil prices may fall to USD 25/bbl if they don’t take action to support market.
Base metals prices are expected to remain weak today.