SHANGHAI, Mar 13 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.
Last night
The US dollar index fell to 89.91 following the weak performance of monthly average hourly earnings in the US for February.
Base metals edged down from highs across the board. LME aluminium dropped over 1% to a three-month low as China’s winter production limitation will end in three days and prices are likely to increase as supply grows. LME lead and zinc slipped about 2%, while SHFE nickel inched up.
Day ahead
The US' February seasonally adjusted consumer price index (CPI) and the its annual, core CPI data are two key factors to watch today.
The US dollar edged down below 90 due to poor results from the US non-farm payrolls. We expect it to continue to hover at 90 today.
Base metals inched up across the board and will continue to trade rangebound with pressure.
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