Europe and the United States data weak metal pressure down
On the 2nd, the core countries of the euro zone announced that the PMI fell in April. The final PMI of the euro zone in April was 45.9, slightly lower than the previous value of 46, a three-year low. In addition, the number of unemployed in Germany increased by 19,000 in April. The unemployment rate rose from 6.7% in March to 6.8%. The shrinking manufacturing industry in the core countries of the euro zone accelerated, and the German economy showed signs of fatigue, raising concerns about the European economic outlook. In the evening, the United States announced that the number of ADP employment in April increased by 119,000, a sharp decrease from the previous value of 209,000, and far less than the expected 175,000. Market confidence was under pressure. LME base metals have been frustrated, and Shanghai Metal will be affected by its overall downside. At present, the market is generally concerned about the April non-farm payrolls data to be released on Friday. If the data is not performing well, it shows that the US economy continues to deteriorate, and investors' expectations for the Fed to launch QE3 will be strengthened.