Key Macroeconomic Indicators for Base Metal Prices (2017-6-6)-Shanghai Metals Market

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Key Macroeconomic Indicators for Base Metal Prices (2017-6-6)

Price Review & Forecast 09:34:36AM Jun 06, 2017 Source:SMM

SHANGHAI, Jun. 6 (SMM) – Sentix Investor Confidence Index for eurozone in June, eurozone April retail sales and Job openings of JOLTs in April for the US will be released today. China’s foreign exchange reserve in May and LMCI Labor Market Condition Index in May will also be announced today. Base metals continued to diverge overnight, with some metals down further. Such situations will continue today.

Even if eurozone retail sales in April fall for a second straight month as expected, eurozone economy will still recover. This data will give limited effect to the market.

SMM Price Outlook for Base Metals on SHFE (Jun. 6, 2017)

If Job openings of JOLTs in April for the US and LMCI Labor Market Condition Index in May weaken, concerns over US labor market will increase, weighing down the US dollar, and vice versa. But Fed’s rate hike decision at June meeting will barely be affected. 

Key Words:  base metals 

Key Macroeconomic Indicators for Base Metal Prices (2017-6-6)

Price Review & Forecast 09:34:36AM Jun 06, 2017 Source:SMM

SHANGHAI, Jun. 6 (SMM) – Sentix Investor Confidence Index for eurozone in June, eurozone April retail sales and Job openings of JOLTs in April for the US will be released today. China’s foreign exchange reserve in May and LMCI Labor Market Condition Index in May will also be announced today. Base metals continued to diverge overnight, with some metals down further. Such situations will continue today.

Even if eurozone retail sales in April fall for a second straight month as expected, eurozone economy will still recover. This data will give limited effect to the market.

SMM Price Outlook for Base Metals on SHFE (Jun. 6, 2017)

If Job openings of JOLTs in April for the US and LMCI Labor Market Condition Index in May weaken, concerns over US labor market will increase, weighing down the US dollar, and vice versa. But Fed’s rate hike decision at June meeting will barely be affected. 

Key Words:  base metals