Key Macroeconomic Indicators for Base Metal Prices (2016-3-22)

Published: Mar 22, 2016 09:18

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Market will eye March economic climate index and current conditions index from the euro zone and Germany, as well as FHFA home price index for January on Tuesday.

SHANGHAI, Mar. 22 (SMM) –Market will eye March economic climate index and current conditions index from the euro zone and Germany, as well as FHFA home price index for January on Tuesday.

Market expects Germany’s March IFO economic climate index and ZEW economic climate index for Germany and the euro zone to show improvement. However, recent economic data showed those figures are likely to soften. The euro zone is still facing persistently soft inflation and sluggish manufacturing. Moreover, the euro zone’s Sentix investor confidence fell for three months in a row.

US home prices kept growing in January. Low house inventories and strong demand mean there is still room for US home prices to rise. US Zillow Home Value Index showed home prices in the US rose 0.2% MoM and 4.2% YoY in January. CoreLogic reported that US home prices rose 6.9% YoY in January.

The Boao Forum for Asia will open today, with theme featuring innovation, Internet Plus, etc.

See SMM price forecast, please click:Base Metals to See Wider Fluctuations, SMM Says

base metal price forecast base metals

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