Key Macroeconomic Indicators for Base Metal Prices (2017-3-30)

Published: Mar 30, 2017 09:29 (GMT+8)

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Attention should be on final reading of US’s GDP and PCE price index, eurozone’s industrial, service and economic climate index and CCI on Thursday.

SHANGHAI, Mar. 30 (SMM) – Attention should be on final reading of US’s GDP and PCE price index, eurozone’s industrial, service and economic climate index and CCI on Thursday. US dollar index increased on Wednesday’s night trading and commodity prices also advanced. Most base metals broke through the moving averages while growth of other metals was limited by negative technical indicators. Base metals will remain divergent on Thursday.

SMM Price Outlook for Base Metals on SHFE (Mar. 30, 2017)

US’s real GDP growth will be revised to 2% from 1.9% on an annual basis in Q4. Moreover, Federal Reserve Bank of Cleveland, Federal Reserve Bank of Dallas and Federal Reserve Bank of San Francisco Chairs will deliver hawkish comment on Friday night. Those will strength expectation over interest rate hike in April, sending US dollar index up.

Eurozone’s industrial and economic climate index and CCI kept improving in March. But, the positive data will not support euro as dovish officials prevail in European Central Bank.

Macroeconomic Indicators base metals

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