Base metals pulled back from a two-week high on pressure from a stronger dollar
and continued concerns about weaker global demand for the industrial metal. are
also bracing for a slew of Chinese economic data, with inflation, trade, retail
sales and industrial production reports all due this week. Today’s China’s
trade balance came in a notch lower than expectations where the overall surplus
came in at $54.10 billion, compared to an expected $63.30 billion. Also in
Japan, third quarter GDP slumped 0.8% year-on-year compared to a 0.2% fall seen
and fell 0.2% quarter on-quarter compared to a 0.1% drop expected. For the day
we recommend a sell in all metals except All where a range bound trade can
emerge.
Date Time C
Event Period Surv(A) Prior
12/08/15 15:30
EC GDP SA QoQ 3Q P 0.30% 0.30%
12/08/15 15:30
EC GDP SA YoY 3Q P 1.60% 1.60%
12/08/15 20:30
US JOLTS Job Openings Oct 5550 5526
12/08/15 20:30
US IBD/TIPP Economic Optimism Dec 44.93 45.5
12/08/15 CH
Trade Balance Nov $64.13b $61.64b
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