Cable Raw Materials (Copper) Weekly Report (5.16-5.20)

1.
New York Fed President Dudley said that as long as future data returns to track as expected, it is appropriate for the Fed to resume raising interest rates in the summer, but June is definitely a live meeting; I am satisfied to see that the market's expectations for the Fed's interest rate hike in June and July have risen, after the market was too low in pricing; The Fed will consider the impact of
Brexit.
Dudley is the only local Fed president with permanent voting rights
.

2.
U.
S.
CPI rose 0.
4% in April, the fastest pace since February 2013
.
Core inflation, which excludes food and energy prices, rose 0.
2 percent
.
Gasoline prices rose to a four-year high, which helped push up overall inflation
.
David Sloan, senior economist at 4cast Inc, said: "Inflationary pressures are intensifying
.
This time the data may give the Fed more confidence
in inflation.

3.
The minutes of the Fed's April meeting said that if future data shows that the US economy is improving, the Fed may raise interest rates
at its June meeting.
The vast majority of participants agreed that if future data showed that economic growth accelerated in the second quarter, the labor market remained strong, and inflation was moving towards the Fed's 2% target, then it would be appropriate
for the Fed to raise rates at its June meeting.

4.
UK retail sales in April were 1.
3% month-on-month, 0.
6% expected, and the previous value was revised from -1.
3% to -0.
5%; 4.
3% y/y vs.
2.
5% expected, revised to 3.
0%
from 2.
7% prior.
Core retail sales were 1.
5% m/m vs 0.
6% expected, revised to -0.
7% from -1.
6% prior; 4.
2% y/y vs.
2% expected, revised from 1.
8% to 2.
6%
prior.

Goldman Sachs raised its expectations for oil prices in 2016, expecting oil prices to reach $45 per barrel in the second quarter of this year and $50 per barrel in the second half of this year
.
But at the same time, the bank lowered its 2017 oil price forecast to $52.
50 a barrel from its previous forecast of $
57.
50 a barrel.