European markets are expected to start on a positive note.
The Euro was under pressure against its major counterparts. In Europe, euro zone PMI composite was 53.1 in March in final estimation vs 53.2 in prior one. It was 53.3 the month before. PMI services was 52.2, vs 52.4 expected and 52.6 in February. Separately, euro zone retail sales gained 0.4% in February after a 1% increase in January (revised from +1.6%). Economists anticipated them to be down by 0.5%. In Germany, PMI services was 53 in March in final estimation vs 54 anticipated and 55.9 the month earlier.
Gold was down $3.4 to $1286.5. The precious metal was below its 20D MA (@ $1326) and below its 50D MA (@ $1310).
Copper Future (MAY 14) on Comex was down 1.6c to 303c/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 1275 tons to 260100 tons.
Today's Economic Events
US 13:30: MAR Change in Nonfarm Payrolls (Thsd): 200
US 13:30: MAR Change in Manufact. Payrolls (Thsd): 6