Key Macroeconomic Indicators for Base Metal Prices (2016-11-30)

SHANGHAI, Nov. 30 (SMM) – Eurozone November CPI will be released today, which is expected to be upbeat thanks to Quantitative Easing by European Central Bank. Deutsche Bank has increased long-term bond yields to strengthen its profitability, though.

Caution Arises in Base Metals Market, SMM Says

ADP’s November employment data due for release this evening is expected to rise to above 160,000. This will keep the US dollar strong.

OPEC countries will meet in Vienna today. If an agreement on oil output cut fails to be reached, short momentum may grow.

China is expected to be tightening its liquidity by large institutions, which may have been a reason behind recent declines in base metals. Investors are suggested to take a wait-and-see attitude, awaiting rebound in base metals prices.