Key Macroeconomic Indicators for Base Metal Prices (2017-2-28)

SHANGHAI, Feb. 28 (SMM) – France and US annualized Q4 GDP, eurozone and eurozone country inflation in February, US inflation, home price, manufacturing and CCI data are the focus of markets. Trump will speak before congress senators today, and the market will awaiting if there will be any details as to infrastructure construction and tax cut. Base metals are expected to diverge today.

Eurozone, French and Italian February CPI will improve. Rising crude oil prices will boost inflation. This may not lead to interest rate cut by the European Central Bank and give any effect to the euro.

US Q4 GDP may be revised from 1.9% to 2.0%, and will boost the US dollar. PCE goods price index for the US rose during October-October 2016, boding well for PCE goods price index in Q4 2016.

Trump’s statement will be the focus of markets today, and is expected to drive up commodity market.