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Home / Metal News / Key Macroeconomic Indicators for Base Metal Prices (2016-8-19)

Key Macroeconomic Indicators for Base Metal Prices (2016-8-19)

Aug 19, 2016 09:21

Source:SMM

The market will lack solid macroeconomic news today.

SHANGHAI, Aug. 19 (SMM) – The market will lack solid macroeconomic news today. The US dollar index weakened due to sluggish economic indicators from the US and dovish July meeting minutes by the Fed. This should continue to boost base metals today.

Germany’s July PPI slated for release today is expected to improve. Eurozone annualized July CPI improved. This, combined with continuous improvement in Germany’s April PPI, bode well for eurozone inflation in July.

San Francisco Fed Chairman said US economy strengthened, and is near full employment. He supports a Fed rate hike in the near term.

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