Key Macroeconomic Indicators for Base Metal Prices (2017-1-12)

SHANGHAI, Jan. 12 (SMM) – China’s annualized currency supply, Japan’s trade data, France’s CPI, Italy’s industry output, Germany’s GDP, the number of US initial jobless claims and Bloomberg CCI will be released today. Base metals rose at first and then rose overnight, and will diverge today.

Base Metals to Stabilize, SMM Predicts

European Central Bank will announce policy meeting minutes for December. Investors will keep an eye on European Commission’s confidence toward eurozone inflation. Germany’s annualized GDP for 2016 will slightly top 2015, and Italy’s November industry output will rise. The euro will improve as eurozone November industrial output return to positive territory.

The number of continued jobless claims last week in the US will fell slightly, while the number of initial jobless claims will rise slightly. Trump held press conference but did not put forward guidance stimulating growth. The US dollar will extend losses, while oil prices will rise further.