Key Macroeconomic Indicators for Base Metal Prices (2016-11-24)-Shanghai Metals Market

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Key Macroeconomic Indicators for Base Metal Prices (2016-11-24)

Industry News 09:27:04AM Nov 24, 2016 Source:SMM

SHANGHAI, Nov. 24 (SMM) – US financial markets will be closed today due to the Thanksgiving Day. Germany’s annualized Q3 growth, IFO business sentiment index in November for Germany and Gfk November CCI will be released today. The market will consume FOMC’s November meeting minutes today.

Base metals surged overnight, and are expected to remain strong today.

Germany’s annualized Q3 growth will remain low around 1.5%, due to sluggish exports, despite higher household and government spending.

FOMC’s November meeting minutes released this morning expressed a hawkish tone. Most Fed officials think it appropriate to hike interest rate in December.  Federal funds market interest rate shows the likelihood of a Fed rate hike in December will be 100%, and that for a 25 basis points hike increased 2% to 98%. But the market gave limited response after the release of the meeting minutes.

 

Key Words:  base metals 

Key Macroeconomic Indicators for Base Metal Prices (2016-11-24)

Industry News 09:27:04AM Nov 24, 2016 Source:SMM

SHANGHAI, Nov. 24 (SMM) – US financial markets will be closed today due to the Thanksgiving Day. Germany’s annualized Q3 growth, IFO business sentiment index in November for Germany and Gfk November CCI will be released today. The market will consume FOMC’s November meeting minutes today.

Base metals surged overnight, and are expected to remain strong today.

Germany’s annualized Q3 growth will remain low around 1.5%, due to sluggish exports, despite higher household and government spending.

FOMC’s November meeting minutes released this morning expressed a hawkish tone. Most Fed officials think it appropriate to hike interest rate in December.  Federal funds market interest rate shows the likelihood of a Fed rate hike in December will be 100%, and that for a 25 basis points hike increased 2% to 98%. But the market gave limited response after the release of the meeting minutes.

 

Key Words:  base metals