European markets are expected to open on a flat note.
The Euro was under pressure against its major counterparts. In Europe, ECB kept its main interest rate benchmark at 0.25%, as expected. President Mario Draghi said the ECB is ready to take action in June. German industrial production fell 0.5% in March after a 0.6% increase in February (revised from +0.4%). Economists anticipated a 0.2% advance.
The British Pound was mixed. BoE kept its main interest rate benchmark at 0.5%, as expected and maintained its asset purchase target at £375B.
Gold was about flat to $1289. The precious metal was below its 20D MA (@ $1298) and below its 50D MA (@ $1314).
Copper Future (JUL 14) on Comex was up 2.7c to 305.9c/lb. The contract was above its 20D MA (@ 304.03c) and above its 50D MA (@ 305.13c). In Europe, the London Metal Exchange reported its copper inventories decreased 3925 tons to 213025 tons
Today's Economic Events
GE 07:00: MAR Current Account (Bln): 14.9
GE 07:00: MAR Trade Balance (Bln): 17.4
GE 07:00: MAR Imports (MoM): 0.6%
GE 07:00: MAR Exports (MoM): 1.3%
FR 07:45: MAR Central Govt. Balance (Bln): NA
UK 09:30: MAR Manufacturing Production (MoM): 0.3%
UK 09:30: MAR Trade Balance Non EU25 (Mln GBP): -3000
UK 09:30: MAR Visible Trade Balance (Mln GBP): -9000
UK 15:00: APR GDP Estimate (NIESR): NA
US 15:00: MAR Wholesale Inventories: 0.5%