European markets are expected to open on a flat note.
The Euro jumped against its major counterparts. In Europe, ECB kept its benchmark interest rate at 0.25%, as expected. ECB raised its 2014 growth forecast for euro-zone to 1.2% vs 1.1% previously. German factory orders were up by 1.2% in January after a 0.2% decline in December. Economist anticipated a 0.9% 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 up $13.7 to $1350.6. The precious metal was above its 20D MA (@ $1320) and above its 50D MA (@ $1273).
Copper Future (MAY 14) on Comex was up 1.4c to 321.65c/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 1500 tons to 272175 tons.
UK Market News
Today's Economic Events
FR 07:45: JAN Trade Balance (Mln): -4950
FR 07:45: JAN Central Govt. Balance (Bln): NA
GE 11:00: JAN Industrial Production (MoM): 0.8%
US 13:30: JAN Trade Balance (Bln): -38.5
US 13:30: FEB Unemployment Rate: 6.6%
US 13:30: FEB Change in Nonfarm Payrolls (Thsd): 146
US 13:30: FEB Change in Manufact. Payrolls (Thsd): 5
US 20:00: JAN Consumer Credit (Bln): 14