Good morning Andrew,
European markets are essentially flat to a shade lower in the wake of another flurry of disappointing Euro-zone economic reports.....Employment and manufacturing data came in below expectations; renewing worries about global economic growth.....European stock markets are flat to down .3%.....The Euro currency is about unchanged at $1.3343 up 9/100ths of U.S. cent.....
The weaker Euro-zone data is pressuring Oil to the downside by 45 cents to $102.57 per barrel......
In London metals trading we find a similar reaction with the precious metals complex little changed.....Silver is $32..44 off 6 cents.....Gold is $5.00 lower at $1666.00......Palladium is up $5.00 and changing hands at $661.00 per ounce.....Platinum sits at $1645 up $1.00.....
As for the U.S. stock market; more of the same....The Dow is being indicated to open 8 point lower in advance of this morning's U.S. economic data....March ISM Manufacturing is expected to clock in at 53; up slightly from the prior month's 52.4......February Construction Spending looks to be up .5% versus -.1%...Given the better data one must assume the flat open is purely attributable to the European sentiment.....
In a final note of interest; this Friday's economic calendar carries the all important Monthy Non Farm Payrolls report...It will be a market mover as we approach the end of the week......That's it.....Hope you had a good week-end.....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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