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Home / Metal News / Key Macroeconomic Indicators for Base Metal Prices (2016-12-28)

Key Macroeconomic Indicators for Base Metal Prices (2016-12-28)

Dec 28, 2016 09:27

Source:SMM

The LME market will reopen today. US pending home sales in November and Dallas Fed’s Business Activity Index in December will be released today. LME base metals are expected to open low but move highe

SHANGHAI, Dec. 28 (SMM) – The LME market will reopen today. US pending home sales in November and Dallas Fed’s Business Activity Index in December will be released today. LME base metals are expected to open low but move higher today.

LME Market to Open Low before Rising, SMM Says

US housing market is still promising given recent brisk sales in housing market, improving job market, better CCI and rising home prices. This bodes well for US November pending home sales in November.

MBA 30-year fixed loan rate has been rising from July 2016, meaning growing expectations of a Fed rate hike and rising home prices. If the data continue rising, the US dollar index should remain strong.

base metals

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