Key Macroeconomic Indicators for Base Metal Prices (2017-4-24)

SHANGHAI, Apr. 24 (SMM) – The market will watch France’s general election. Besides, Germany annualized imported goods price index in March, IFO April climate index for Germany, manufacturing index for Chicago Fed in March and April index for Dallas Fed will be released today. Commodity market fell last Friday as short momentum prevailed in the market, and may weaken further.

Germany’s March CPI was 1.6, compared to 1.8% expected and 2.2% in February, falling for the first time after a gain for 10 months in a row. Eurozone annualized March CPI also decreased. If Germany’s annualized imported goods price index in March also fell after rising for 10 straight months, it presages eurozone inflation outlook is not stable.

IFO April climate index for Germany, status quo and expected should remain high. Germany and eurozone economy has been recovering since last year. Comparably, US manufacturing data fell. So, Dallas Fed’s April commercial activity index may fall for the second straight month.