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

SHANGHAI, Jul. 4 (SMM) – Base metals are expected to extend gains this week, but growth will slow.

European stock and foreign exchange markets slumped after the UK voted to leave the EU. Gold and the US dollar were pushed up. Stock and commodities increased due to market expectations toward further easy monetary measures worldwide, while the pound remained weak.

It is still uncertain whether the Fed will raise interest rate in the near future as US non-farm employment data have been weak.

The Fed and European Central Bank will announce their policy meeting minutes for June. European Central Bank is expected to either expand its bond purchase or lower interest rate to stabilize economy.

US June non-farm employment data will be released this week.