Zinc settled up 1.01% at 119.90 as upbeat Chinese economic indicators push up the prices despite of lack of positive news and as US October non-farm employment data were to be released. US Labor Department announced US non-farm sector added 204,000 jobs in October, topping expectations, but unemployment rate rose from 7.2% in September to 7.3%. University of Michigan's CCI in November was 72 , its lowest in nearly two years, with the US dollar index rebounding to 81.48. LME zinc prices were pushed down to USD 1,886.8/mt. Better-than-expected US non-farm payrolls rekindled concerns that the US Federal Reserve (Fed) may wind down QE3 sooner than expected.
Monday, November 11, 2013
Commodity Trading Tips for Zinc by KediaCommodity
Zinc settled up 1.01% at 119.90 as upbeat Chinese economic indicators push up the prices despite of lack of positive news and as US October non-farm employment data were to be released. US Labor Department announced US non-farm sector added 204,000 jobs in October, topping expectations, but unemployment rate rose from 7.2% in September to 7.3%. University of Michigan's CCI in November was 72 , its lowest in nearly two years, with the US dollar index rebounding to 81.48. LME zinc prices were pushed down to USD 1,886.8/mt. Better-than-expected US non-farm payrolls rekindled concerns that the US Federal Reserve (Fed) may wind down QE3 sooner than expected.
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