European markets are expected to open on a negative note.
The Euro was mixed against its major counterparts. In Europe, Germany trade balance was an excess of E15B in January, as expected, compared to an excess of E13.9B in December. Exports increased by 2.2% while imports were up by 4.1%.
Gold was up $7.8 to $1347.5. The precious metal was above its 20D MA (@ $1329) and above its 50D MA (@ $1281).
Copper Future (MAY 14) on Comex was down 8.2c to 294.95c/lb. The contract was below its 20D MA (@ 330.62c) and below its 50D MA (@ 326.76c). The 14d RSI below 30 (28.17) indicates Copper Future (MAY 14) contract was oversold. In Europe, the London Metal Exchange reported its copper inventories decreased 7800 tons to 257600 tons.
Today's Economic Events
EC 10:00: JAN Euro-Zone: Industrial Production (MoM): 0.5%
US 14:30: W9 Crude Oil Inventories (WoW chg): 1850