European markets are expected to start on a flat note.
The Euro was firm against its major counterparts. In Europe, euro zone PMI manufacturing was 53 in March in final estimation, as in prior one and 53.2 the month before. Euro zone unemployment rate was flat in February at 11.9%. In Germany, PMI manufacturing was 53.7 in March in final estimation vs 53.8 in prior one and 54.8 in February. In Germany, unemployment was down by 12K in March after a 15K decrease in February (revised from -14K). Economists anticipated a 10K drop. Unemployment rate was 6.7%, flat MoM.
Gold was down $4.3 to $1279.7. The precious metal was below its 20D MA (@ $1331) and below its 50D MA (@ $1308).
Copper Future (MAY 14) on Comex was up 1.1c to 303.7c/lb. The contract was below its 20D MA (@ 307.74c) and below its 50D MA (@ 319.17c). In Europe, the London Metal Exchange reported its copper inventories decreased 1925 tons to 263250 tons.
Today's Economic Events
US 15:00: FEB Factory Orders: 1.2%
US 15:30: W12 Crude Oil Inventories (WoW chg): 2500