European markets are expected to start on a flat note.
The Euro was mixed against its major counterparts. In Europe, euro-zone CPI index was up by 0.7% in April YoY after a 0.5% increase the month before. Economists anticipated a 0.8% gain. German retail sales decreased by 0.7% in March, as expected, after a 0.4% increase in March (revised from +1.3%). Still in Germany, unemployment was down by 25K in April after a 14K decrease in March (revised from -12K). Economists anticipated a 10K drop. Unemployment rate was 6.7%, flat MoM.
Gold was down $4.3 to $1291.6. The precious metal was below its 20D MA (@ $1300) and below its 50D MA (@ $1318).
Copper Future (JUL 14) on Comex was down 5.1c to 302.15c/lb. The contract was above its 20D MA (@ 300.44c) and below its 50D MA (@ 310.7c). In Europe, the London Metal Exchange reported its copper inventories decreased 1750 tons to 233325 tons.
Germany and Austria markets are closed on Thursday for Labour Day
Today's Economic Events
US 13:30: MAR Personal Income: 0.4%
US 13:30: W16 Initial Jobless Claims (Thsd): 320
US 13:30: MAR Personal Spending: 0.6%
US 15:00: MAR Construction Spending (MoM): 0.5%
US 15:00: APR ISM - Manufacturing: 54.2
US 15:00: APR ISM - Price Paid: 59.5
US : APR Total Vehicule Sales (Mln): 16.2
US : APR Domestic Vehicule Sales (Mln): 12.8