U.S. GDP data is strong, and Shanghai aluminum is strong and volatile

News side: 1.
The US personal consumption expenditure (PCE) in January was 0.
5% month-on-month, the largest increase in eight months, expected to be 0.
4%, and the previous value was 0.
3%.

US real personal consumption expenditures (PCE) for January were 0.
5% m/m vs 0.
3% expected and revised to 0.
1%
in the previous month of 0%.
US personal income in January was 0.
4% m/m versus 0.
3% expected and revised to 0.
2% from 0.
1%
in the previous month.
The US PCE price index for January was 0.
1% m/m vs 0% expected and -0.
1%
prior.
The US PCE price index for January was 1.
3% year-on-year, 1.
1% expected, and the previous reading was revised from 0.
6% to 0.
7%.

The US core PCE price index for January was 0.
3% m/m vs 0.
2% expected and revised from 0.
1%
in the previous month of 0%.
The core PCE price index in the United States rose 1.
7% year-on-year in January, the biggest increase since November 2012, and was expected to be 1.
5% compared with 1.
4% in the previous month
.
U.
S.
real GDP for the fourth quarter was revised 1.
0% annualized quarter-on-quarter, 0.
4% expected, and 0.
7%
preliminary reading.
U.
S.
personal consumption expenditures (PCE) were revised 2.
0% annualized quarter-on-quarter in the fourth quarter, 2.
2% expected, and 2.
2%
preliminary reading.
The US GDP deflator for the fourth quarter was revised by 0.
9%, 0.
8% expected, and 0.
8%
in the preliminary reading.
The core PCE price index in the United States in the fourth quarter was revised by 1.
3% annualized quarter-on-quarter, 1.
2% expected, and 1.
2%
preliminary value.

2.
The meeting reaffirmed that competitive devaluation will be avoided and agreed to conduct close discussions and communication
on the foreign exchange market.
Agreed to continue to study possible policy measures by the G20 if necessary to support growth and stability
.
Agreed to further strengthen the structural reform agenda, including the development of reform priority areas and guiding principles, and the establishment of a system of indicators to better assess and monitor the progress of
structural reforms among members.
Agreed to study policy measures
to address weaknesses in global trade and investment.
Brexit and the refugee crisis are the main risks
.
Capital flows
will be better monitored.
Chinese Finance Minister Lou Jiwei: Monetary policy should be kept simple
.
Monetary policy should be moderately accommodative
.
Not all countries can use fiscal stimulus unless debt-to-GDP ratios are kept at sustainable levels
.

3) Fed Governor Lael Brainard: Central bank coordination would be very beneficial
.
Policy divergence among major economies is likely to be limited
.
Weakness in overseas economies and a decline in the US own neutral interest rate could slow the Fed's
actions.
The strength of the dollar is a serious drag
on inflation.
Headwinds could mean that the Fed's interest rate pathway is lower
than expected.
Market factors hit the United States in the past year, half of which is equivalent to three Fed interest rate hikes of 0.
25 percentage points
.
At a time when global economic growth is slowing, the pace of interest rate hikes in the United States may slow more than previously expected
.

Today's aluminum price analysis: US GDP data is strong, G20 China said that monetary and fiscal policies continue to be loose, dragging down the pace of
industrial product adjustment.
In the short term, Shanghai aluminum performed strongly, and the shock continued to rise
.
Today's aluminum prices are expected to rise or flat, for reference
only.