European markets are expected to start on a positive note.
The Euro was mixed against its major counterparts. In Europe, euro-zone M3 money supply was up 1.2% YoY in January (+1.1% expected) after a 1% advance in December. Consumer confidence was -12.7 in February in final estimation, as expected, vs -11.7 the month before. In Germany, unemployment was down by 14K in February after a 28K decrease in January. Economists anticipated a 10K drop. Unemployment rate was 6.8%, flat MoM. Separately, German CPI index was up by 0.5% in February in first estimation after a 0.6% decrease in January.
Gold was about flat to $1331.2. The precious metal was above its 20D MA (@ $1298) and above its 50D MA (@ $1259).
Copper Future (MAY 14) on Comex was about flat to 320.55c/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 2050 tons to 274350 tons.
UK Market News
FR 07:45: JAN Producer Price Index (MoM): NA
EC 10:00: JAN Euro-Zone: Unemployment Rate: 12%
US 13:30: 4Q GDP (QoQ): 2.5%
US 13:30: 4Q GDP Price (QoQ): 1.3%
US 13:30: 4Q Personal Consumption: 2.9%
US 14:45: FEB Chicago Purchasing Manager Index: 56.4
US 14:55: FEB U. of Michigan Confidence: 81.2