Macro Roundup (Nov 13)-Shanghai Metals Market

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Macro Roundup (Nov 13)

Data Analysis 08:22:09AM Nov 13, 2019 Source:SMM

SHANGHAI, Nov 13 (SMM) – This is a roundup of global macroeconomic news last night and what is expected in the day ahead.

Last night

The US dollar rose on Tuesday as US President Donald Trump reiterated the United States is close to signing a trade deal with China but offered no new details.

The dollar index, which tracks the greenback against a basket of other currencies, gained 0.13% and ended at 98.34.

LME base metals and the SHFE complex mostly fell. LME copper shed 0.44%, zinc slipped 1.08%, tin fell 1.24%, lead lost 1.36%, while nickel gained 0.45%, and aluminium rose 0.17%.

SHFE copper eased 0.32%, aluminium fell 0.43%, zinc dipped 0.56%, tin went down 0.7%, while lead rebounded 0.35%, and nickel gained 0.63%. 

The mood among German investors improved more than expected in November, a ZEW survey showed on Tuesday, with the research group pointing to a more favourable outlook for Europe's biggest economy after recent developments in trade conflicts.

ZEW said its monthly survey showed economic sentiment among investors jumped to -2.1 from -22.8 in October. Economists polled by Reuters had expected an improvement to -13.

"There is growing hope that the international economic policy environment will improve in the near future, which explains the sharp rise in the ZEW indicator of economic sentiment in November," ZEW President Achim Wambach said.

Eurozone ZEW economic sentiment also rose sharply to -1.0, up from -23.5, and beat expectation of -11.5. Eurozone current situation rose 6.8 to -19.6.

Day ahead

Key economic data slated for release today include Germany and the US’ consumer price index (CPI) for October. 

Key Words:  Macroeconomics 

Price

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1# Silver Ingots(99.99%)
Dec.13
4054.0
-35.0
(-0.86%)
2# Silver Ingots(99.95%)
Dec.13
4039.0
-35.0
(-0.86%)
3# Silver Ingots(99.90%)
Dec.13
4024.0
-35.0
(-0.86%)
Gold(99.99%)
Dec.13
330.7
-4.1
(-1.22%)
Gold(99.95%)
Dec.13
330.4
-4.0
(-1.20%)

Macro Roundup (Nov 13)

Data Analysis 08:22:09AM Nov 13, 2019 Source:SMM

SHANGHAI, Nov 13 (SMM) – This is a roundup of global macroeconomic news last night and what is expected in the day ahead.

Last night

The US dollar rose on Tuesday as US President Donald Trump reiterated the United States is close to signing a trade deal with China but offered no new details.

The dollar index, which tracks the greenback against a basket of other currencies, gained 0.13% and ended at 98.34.

LME base metals and the SHFE complex mostly fell. LME copper shed 0.44%, zinc slipped 1.08%, tin fell 1.24%, lead lost 1.36%, while nickel gained 0.45%, and aluminium rose 0.17%.

SHFE copper eased 0.32%, aluminium fell 0.43%, zinc dipped 0.56%, tin went down 0.7%, while lead rebounded 0.35%, and nickel gained 0.63%. 

The mood among German investors improved more than expected in November, a ZEW survey showed on Tuesday, with the research group pointing to a more favourable outlook for Europe's biggest economy after recent developments in trade conflicts.

ZEW said its monthly survey showed economic sentiment among investors jumped to -2.1 from -22.8 in October. Economists polled by Reuters had expected an improvement to -13.

"There is growing hope that the international economic policy environment will improve in the near future, which explains the sharp rise in the ZEW indicator of economic sentiment in November," ZEW President Achim Wambach said.

Eurozone ZEW economic sentiment also rose sharply to -1.0, up from -23.5, and beat expectation of -11.5. Eurozone current situation rose 6.8 to -19.6.

Day ahead

Key economic data slated for release today include Germany and the US’ consumer price index (CPI) for October. 

Key Words:  Macroeconomics