Key Macroeconomic Indicators for Base Metal Prices (2016-4-7)

SHANGHAI, Apr. 7 (SMM) – The number of US initial jobless claims last week will be announced today. Base metals will remain range-bound and diverge today.

The number of US initial jobless claims is expected to remain below 300,000, meaning improving job market. Fed’s March meeting minutes released this morning also pointed toward a strengthening labor market.

Most Fed officials are cautious toward an interest rate hike in April, citing overseas risk and expectations of slide in inflation. The US dollar index rebounded slightly after the release of the meeting minutes but then fell back.