20130108 1731 Global Markets & Commodities Related News.

STOCKS: European stock index futures pointed to a lower open after recent advances to 22-month highs while Asian shares fell tracking U.S. stocks which lost ground on Monday in anticipation of sluggish growth in corporate profits. (Reuters)

FOREX-Dollar slips vs yen; euro supported as Japan eyes ESM debt
SINGAPORE, Jan 8 (Reuters) - The euro sagged against the yen  but bounced from early lows after Japan said it will buy bonds issued by the euro zone's permanent rescue fund.
"I think the market will now try to find what the dollar's range against the yen will be, for example whether we are in for an 83-88 range or 85-90," said Satoshi Okinawa, senior global markets analyst for Sumitomo Mitsui Banking Corporation.

FOREX: The euro sagged against the yen, but bounced from early lows after Japan said it will buy bonds issued by the euro zone's permanent rescue fund. (Reuters)

Euro zone sentiment rises for 5th month in row in January (Reuters)
Euro zone sentiment improved for a fifth consecutive month in January, with investors' expectations rising to their highest level in almost two years after a successful Greek bond buyback and a dip in Spanish jobless figures.

Vietnam sees rice exports down slightly in 2013  (Reuters)
Vietnam expects to export 7.5-7.6 million tonnes of rice this year, down slightly from a record high of 7.72 million tonnes in 2012, due to rising supply from major export nations, state-run newspapers reported on Tuesday.

Brazil's Petrobras begins production in offshore Sapinhoa field (Reuters)
Brazil's state-led oil company, Petrobras, said on Monday it had begun pumping oil commercially in the Sapinhoa field, one of the country's biggest offshore reserves, as the company struggles to boost flagging output.

Iraq Dec oil exports slip to 2.34 mbpd, official says (Reuters)
Iraq's oil exports fell to 2.34 million barrels per day in December from 2.62 million bpd in November due to a slowdown in Kurdistan exports, rough weather and technical problems with a single point mooring terminal, an official said on Monday.

OIL: Brent crude above $111 per barrel, trading in a tight range, as investors opted for caution ahead of key data from China and a European Central Bank meeting this week.   (Reuters)

Mississippi River has enough water to stay open-Senator  (Reuters)
The drought-drained Mississippi River has enough water for barges to maintain shipments of billions of dollars worth of commodities, and the White House will consider "any option" to keep it open for commerce, U.S. Sen Dick Durbin said on Monday.

BASE METAS: London copper steadied supported by hopes Chinese trade data this week will show a recovery is gathering steam in the world's top metal consumer, although worries about corporate earnings reporting season commencing this week kept traders cautious.   (Reuters)

PRECIOUS METALS: Gold inched up as the euro held on to gains on expectations the European Central Bank will refrain from a rate cut this week, and with robust physical demand in Asia underpinning prices.  (Reuters)

METALS-London copper steady, China prospects support
MELBOURNE, Jan 8 (Reuters) - London copper steadied supported by hopes Chinese trade data will show a recovery is gathering steam in the world's top metal consumer, although worries about the corporate earnings season starting this week kept traders on edge.
"Most of what we've seen so far in January has been reactions to specific events in the U.S.," said metals analyst Ivan Szpakowski at Credit Suisse in Singapore.

PRECIOUS-Gold edges up on euro, Asia physical buying
SINGAPORE, Jan 8 (Reuters) - Gold inched up as  the euro held on to gains on expectations the European Central  Bank will refrain from a rate cut this week, and with robust  physical demand in Asia underpinning prices.
"Physical demand is very strong," said a Beijing-based  trader. "It's a combination of the attraction of lower prices as well as pre-holiday demand."