Chinese economic recovery supports metals in June'17: Angel Commodities Broking

Monthly Report on Base Metals by Ms. Kaynat Chainwala (Research Analyst - Base Metals, Angel Commodities Broking):

"Base metals traded higher in June'17 as favorable economic data from China after dismal numbers in May'17 provided evidence that the economy is not in as bad shape as perceived. Mostly all economic data including trade balance, industrial production, retail sales and official manufacturing PMI numbers turned up better than expectations last month.

Further, weakness in the DX towards 10-month lows post hawkish comments by European Central Bank and Bank of England chiefs boosted an upside in the dollar denominated commodities."

Source : Equity Bulls

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