MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

MNI: UK NOV FINAL MANUF PMI 48.0 (FLASH 48.6); OCT 49.9

MNI: EUROZONE NOV FINAL MANUF PMI 45.2 (FLASH 45.2); OCT 46.0

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MNI: EUROZONE OCT UNEMPLOYMENT RATE 6.3%

MNI: GERMANY NOV FINAL MANUF PMI 43.0 (FLASH 43.2); OCT 43.0

MNI: FRANCE NOV FINAL MANUF PMI 43.1 (FLASH 43.2); OCT 44.5

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Oil Parameters Unchanged For Now

COMMODITIES
  • Both WTI and Brent crude futures sit in minor positive territory, although they're yet to top the Monday highs as the USD index puts out an unimpressive performance.
  • A break above yesterday's $60.77 for WTI crude futures would open the April highs of $61.75 initially, but further catalysts may be needed to support the price in what's been an uninspiring session so far.
  • Elsewhere, spot gold traded at a new weekly low of $1723.77 this morning as the retreat from the failed test of the 50-dma extends. That level crosses today at $1754.19 and remains a key hurdle for gold bulls going forward.
  • Silver continues to oscillate either side of the upwardly-trending 200-dma at $25.15, with this week's early dip bought to keep the gravitational pull of the level intact ahead of US CPI.
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