Aluminum price is expected to continue to break through after high-level finishing
Data released recently show a stable recovery in the US economy. In terms of employment, the number of new non-agricultural employment in October was 161000, slightly less than expected. But wages rose better than expected, and unemployment fell. After the beautiful US economic data and the hawkish speech of Fed officials, the US federal funds rate futures indicated that the probability of the Fed raising interest rates in December rose to 94%. At 3 a.m. on November 24, Beijing time, the Federal Reserve released the minutes of its November meeting. The vast majority of officials believe that the labor market is less idle and that interest rate hikes should come relatively quickly.
From the above economic data and minutes of the November meeting of the Federal Reserve, it is a high probability event for the Federal Reserve to raise interest rates in December. At present, the market has gradually stepped into the stage where speculation began to heat up to the peak, which can be seen from the fact that the US dollar index effectively broke through the 100 mark. Therefore, if the Federal Reserve does raise interest rates in December, the boots may turn negative to positive after landing, which will boost commodities.
