Key Macroeconomic Indicators for Base Metal Prices (2016-2-25)

SHANGHAI, Feb. 25 (SMM) – US January durable goods orders and eurozone January CPI are slated for release today. Base metal prices are expected to remain range-bound.

US durable goods orders in December declined 5.1% MoM, the largest drop over the last year. US retail sales increased for three straight months in January, boding well for January durable goods orders. This should lend support to the US dollar index. The number of US initial jobless claims last week remain at normal level, and will give limited effect on the market.

Germany’s annualized January CPI hit an eight-month high, meaning eurozone January CPI will likely improve.

Dallas Fed Chairman said today more economic indicators will be considered as to when the Fed will raise interest rate, and the US should be open to negative interest rate.

See SMM price forecast, please click:Shanghai to See Range-Bound Trading, SMM Says