Macro Roundup (Feb 19)

SHANGHAI, Feb 19 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.

Last night

LME base metals traded mixed on Monday. Copper rose 0.6%, nickel gained 0.4% and tin inched up 0.2%, while lead dropped 2.3%, zinc fell 0.8%, and aluminium edged down 0.08%.

SHFE base metals also closed mixed overnight. Nickel climbed 1.3%, copper advanced 1.2% and tin grew 0.09% while aluminium lost 0.3%, zinc declined 0.4% and lead slipped 0.9%.

The US dollar index, which measures the dollar against a basket of rivals, slipped on Monday as optimism over a breakthrough in US-China trade talks drove investors to the euro and riskier currencies.

Day ahead

Economic data slated for release today include the February ZEW economic sentiment for the eurozone and Germany as well as weekly US crude stocks report from the American Petroleum Institute (API).