European markets are expected to open on a negative note.
The Euro was firm against its major counterparts. In Europe, euro zone PMI manufacturing was 54 in January in final estimation, vs 53.9 in prior one and 52.7 the month before. In Germany, PMI manufacturing advanced to 56.5 in January in final estimation vs 56.3 in prior one and 54.3 in December.
Gold was up $12.3 to $1256.9. The precious metal was above its 20D MA (@ $1248) and above its 50D MA (@ $1234).
Copper Future (MAR 14) on Comex was down 2c to 317.65c/lb. The contract was below its 20D MA (@ 330.62c) and below its 50D MA (@ 326.76c). The 14d RSI below 30 (27.53) indicates Copper Future (MAR 14) contract was oversold. In Europe, the London Metal Exchange reported its copper inventories decreased 650 tons to 313875 tons.
UK Market News
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