European markets are expected to start on a flat note.
The Euro was firm against its major counterparts. In Europe, ECB kept its benchmark interest rate at 0.25%, as expected. ECB President Mario Draghi said the ECB is "ready to act" regarding the economic situation. German factory orders were sown by 0.5% in December after a 2.4% gain in NOvember. Economist anticipated a 0.2% increase.
The British Pound was mixed against its major counterparts. Bank of England kept its benchmark interest rate at 0.5% and held its asset purchase target at £375B.
Gold was about flat to $1257.4. The precious metal was above its 20D MA (@ $1252) and above its 50D MA (@ $1235).
Copper Future (MAR 14) on Comex was up 3.5c to 322.35c/lb. The contract was below its 20D MA (@ 330.62c) and below its 50D MA (@ 326.76c). In Europe, the London Metal Exchange reported its copper inventories decreased 1975 tons to 309250 tons.
UK Market News
Fitch Ratings has affirmed Iceland's rating at "BBB", outlook "Stable", saying: "Iceland's ratings are supported by its high level of income per capita and indicators of governance and human development similar to the highest-rated sovereigns."
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