Copper is sharply retracing today after breaking the $6,240 support yesterday, holding currently the $6,150 short-time support towards the $6,100 after LME stocks went up 38,700 tm. Cash to 3s was valued at $25.75 contango. Aluminium remains steady holding the $1,800 support level, still having a level below at $1,790 area. And above the $1,840 main resistance. Full spread closed at $6.50 contango with some $13 contango in February and around $6 contango in March dates. Nickel is holding the $13,700 support, but risking to go through the support towards the $12,850 area. Full spread closed at $19.50 contango. Zinc topped below the $2,460 and retraced towards the $2,400 support. Bounced again up as supply concerns arise. Lead broke through the $1,950 support after spiking last week till the $2,040. Below the $1,900 remain as main support. Cash to 3s was valued at $8 contango. Tin retraced after topping at $17,900having main support below at $17. Above $18,600 could be seen as next resistance. The spread valued as $44.
Gold retraced below the $1,560 after topping today at $1,568, despite the drop on world stocks retracing from all-time highs. Silver remains above the $18. US-China trade deal effects expected to be limited in the global economic development and political situation in the US together with new virus appeared in China, seem to bring support somehow.
Platinum remains also above the $1,000 at $1,002 this morning and palladium retraced $100 being traded at $2,455 today.
Brent got a support on concerns of Libya production cuts, arising supply concerns, and WTI remains steady at $58.55. #
The EUR remains steady against the USD trading still at 1.1090 and the GBP slightly rose trading now at 1.3000.
DAX is losing some 0.70% today trading this morning at 13,454 almost 95 points lower. DJI finished at 29,166 losing almost 0.40%. Asian markets finished all down with Nikkei -0.91%, SSEC at -1.41% and HSI at -2.81%.
WEF Annual Meetings day 1. European and German ZEW Economic Sentiment at 10.00. UK Average Earnings Index, Claimant Count Change and Unemployment Rate at 09.30.
This report was written at 9.00. All times referenced are GMT.
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