STOCKS: European stocks opened lowered after U.S. budget negotiations to delay growth-curbing austerity measures hit a roadblock and some key regional indexes failed to break above resistance levels. Asian shares slipped after a plunge in U.S. manufacturing activity hit Wall Street stocks on Monday. (Reuters)
FOREX-Euro rises to 6-week high versus dollar
LONDON, Dec 4 (Reuters) - The euro rose to a six-week high against the dollar extending the previous day's rise on positive news on Greece and Spain, with traders reporting real money accounts buying the currency.
The euro rose to $1.3077, just above the previous day's high of $1.3076 and its highest since Oct. 22, according to trading platform EBS. Traders reported stop loss buy orders above $1.3100.
U.S. manufacturing contracts to weakest in 3 years (Reuters)
U.S. manufacturing unexpectedly contracted in November, falling to its lowest level in over three years in a sign the sector may be struggling to gain traction, according to an industry report released on Monday.
Australia central bank cuts rates to record-matching lows (Reuters)
Australia's central bank cut interest rates a quarter point to a record-matching low on Tuesday, stepping up efforts to safeguard the rich world's most resilient economy from the risk of recession as a mining boom peaks.
GRAINS: U.S. soybeans were largely steady after gaining just over one percent in the previous session as unfavourable weather in major South American producer Argentina raised crop concerns. (Reuters)
New rains sustain floods in Argentina's soy belt (Reuters)
Rains expected to hit Argentina's grains belt this week will sustain the floods that have fanned global supply worries by swamping and blocking access to key soy, corn and wheat areas, local experts said on Monday.
OIL: Brent crude slipped toward $110 per barrel as demand concerns moved into focus after weak manufacturing data from the United States, the world's top oil consumer, while its uncertain fiscal deficit negotiations also kept investors on the edge. (Reuters)
POLL-US crude, refined product stocks seen higher last week (Reuters)
U.S. commercial crude oil stockpiles likely rose marginally last week while gasoline stockpiles were expected to show larger builds, a preliminary Reuters poll of six analysts showed on Monday.
Vale to scale back investment as global economy bites (Reuters)
Brazil's Vale SA, the world's second-largest mining company, cut estimated 2013 capital spending by 24 percent after a global slowdown and a drop in iron ore prices led the company to rethink expansion.
BASE METALS:London copper fell for the first time in four sessions, pulling away from six-week highs hit in the prior session, as U.S. economic and fiscal worries countered optimism that top copper user China is on the road to recovery. (Reuters)
PRECIOUS METALS: Gold fell about 1 percent to its lowest in nearly a month on technical selling after prices broke below key support levels, but the dip may lure bargain hunters who expect the gloomy global economy to keep gold buoyant. (Reuters)
METALS-Copper drops from 6-week high, U.S. woes weigh
SINGAPORE, Dec 4 (Reuters) - London copper fell for the first time in four sessions pulling away from six-week highs hit in the prior session, as U.S. economic and fiscal worries countered optimism that top copper user China is on the road to recovery.
"Copper is expensive from a valuation point of view and China is really just stabilising and gathering a bit of strength," said Dominic Schnider, head of commodity research at UBS Wealth Management.
PRECIOUS-Gold dips 1 pct on stop-loss sales; may flush out buying
SINGAPORE, Dec 4 (Reuters) - Gold fell about 1 percent to its lowest in nearly a month on technical selling after prices broke below key support levels, but the dip may lure bargain hunters who expect the gloomy global economy to keep gold buoyant.
"The break probably will not last long," said a Sydney-based trader. "Funds are happy to buy on dips, and so will the central banks and the Chinese."
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