STOCKS: European stock index futures pointed to a slightly lower open a day after hitting 20-month highs, becoming vulnerable to sell-offs in overbought trading conditions as euphoria over the U.S. fiscal deal wanes. Most Asian stock markets edged higher on hopes of a steady economic revival in China. U.S. stocks kicked off the new year with their best day in over a year on Wednesday. (Reuters)
Bigger fights loom after U.S. 'fiscal cliff' deal (Reuters)
President Barack Obama and congressional Republicans face even bigger budget battles in the next two months after a hard-fought "fiscal cliff" deal narrowly averted devastating tax hikes and spending cuts.
China services growth adds to economic revival hopes (Reuters)
Growth in China's increasingly important services sector accelerated in December at its fastest pace in four months, adding to signs of a modest year-end revival in the world's second-largest economy.
FOREX: The yen edged higher but remained near a 29-month low versus the dollar and looked fragile, weighed by expectations of more forceful monetary stimulus by the Bank of Japan. (Reuters)
FOREX-Dollar rises to 3-week high versus Swiss franc
LONDON, Jan 3 (Reuters) - The dollar rose to a three-week high against the Swiss franc on Thursday as waning euphoria over a U.S. budget deal prompted investors to buy back the more liquid dollar and on talk of weak Swiss data.
The Swiss KOF indictor, due at 0800 GMT, is forecast to fall to 1.35 in December from 1.50 previously.
Good weather seen for last leg of Argentine soy, corn sowing (Reuters)
Dry weather that has allowed Argentine farmers to speed soy and corn planing over recent weeks is expected to last until mid-January, setting the stage for big harvests as early-season flooding gives way to a blazing Southern Hemisphere summer sun.
OIL: Brent crude traded around $112 a barrel after positive data reinforced hopes of an economic recovery in China, but the prospect of more budget battles in the United States and rising oil supply weighed on prices. (Reuters)
POLL-US Crude stocks seen down last week on lower imports (Reuters)
U.S. commercial crude oil stockpiles likely fell last week due to lower imports as refiners drew down for year-end tax purposes, a preliminary Reuters poll of eight analysts showed on Wednesday.
BASE METAS: London copper prices traded around the two-month top hit in the previous session as relief over a last-minute deal to avert a U.S. fiscal disaster continued to underpin prices. (Reuters)
PRECIOUS METALS: Gold traded around $1687.00 an ounce, holding near its highest level in two weeks hit in the previous session following a last-minute deal to avert a U.S. fiscal disaster, although caution remained over upcoming tough budget negotiations. (Reuters)
S.Africa's Harmony Gold delays restart of Kusasalethu mine (Reuters)
South African bullion producer Harmony Gold said on Wednesday it would delay the post-holiday restart of its Kusasalethu mine following year-end violence and protests.
METALS-London copper near 2-1/2 month top as US deal underpins
SINGAPORE, Jan 3 (Reuters) - London copper edged up towards the 2-1/2-month high hit in the previous session as relief over a last-minute deal to avert a U.S. fiscal disaster continued to underpin prices.
"The sentiment on base metals is turning more positive, especially now the U.S. fiscal crisis has been kicked down the road," said Nick Trevethan, senior commodity strategist at ANZ in Singapore.
PRECIOUS-Gold holds near 2-week high after U.S. fiscal deal
SINGAPORE, Jan 3 (Reuters) - Gold inched up holding near its highest level in two weeks hit in the previous session following a last-minute deal to avert a U.S. fiscal disaster, although caution remained over upcoming tough budget negotiations.
"Precious metals are currently tracking equities, however they are stuck within the next trading range. For gold, it will need to breach $1,695 before it can actually have another upward trend to break above $1,700," said Brian Lan, managing director of GoldSilver Central Pte Ltd in Singapore.
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