Rising March US rate hike bets stalls metals rally in Feb’17: Angel Broking

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

"Base metals traded mixed in February 2017, as uncertainty over the future course of US rate hikes weighed on the risk appetite. Minutes from the last U.S. Federal Reserve meeting showed uncertainty among policymakers about the new Trump administration's economic program. Copper traded flat in Feb'17 although the journey was volatile with supply disruption concerns on one hand and hawkish comments by Fed members on the other. Nickel continues to be the focus for Mar'17 as well given recent easing stance by Philippines President Duterte.

Overall, March 2017 will be a cautious month as the probability of rate hike in the upcoming FOMC meeting runs high after strong signals by Janet Yellen in her latest speech."

Source : Equity Bulls

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