Key Macroeconomic Indicators for Base Metal Prices (2016-1-12)

SHANGHAI, Jan. 12 (SMM) – IBD’s Economic Optimism Index in January for the US and UK’s January industrial output will be released today. The market will also focus on whether the slump in the Shanghai Composite Index will be arrested. Base metals prices are not promising today.

IBD’s Economic Optimism Index is expected to improve, but any increases will be limited given slow growth in salaries. Consumers are still mostly optimistic toward US economy. Atlanta Federal Reserve’s Chairman said the US Fed is expected to announce its second interest rate hike at March policy meeting, and gradually suspend reverse repurchase. This boosted the US dollar index.