Summer holiday mood has spread across metal markets with many participants away from their desks, resulting in little change in prices amid thin liquidity.
On the macroeconomic front, many are watching the Federal Reserve chair Janet Yellen’s speech for any indications of a change in gear for policy tightening as US business activity reacts to uncertainty over the upcoming presidential elections. Latest Markit PMI data showed that services activity has slowed since February and manufacturing experienced lower expansion. Existing home sales also fell more than expected although new home sales rose.
The US economy grew at a 1.1pc annual rate in the second quarter, the Bureau of Economic Analysis said today in its second estimate for the quarter, which was lower than the initial estimate of …
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Source: Metal Pages
WEEK IN REVIEW: Summer lull
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