US Markets Closed for Presidents Day

ASX to open flat. SPI Futures up 1 point (+0.01%).

• Base metals mixed, Nickel flat, Aluminium -0.81%, Zinc +1.05%, Lead -0.92%, and Tin -1.80%.
• Copper prices fell 0.54% after PBoC held its policy rates steady, but falling inventories data contained losses.
• Gold edged up 0.17% as the US dollar retreated marginally.
• Oil prices were steady as supply concerns from the Middle East conflict were offset by weakening demand. WTI and Brent Crude finished flat.
• Dalian Iron ore gained 7.49%, buoyed by the prospect of further stimulus after China’s Premier on Sunday urged departments under the cabinet to do more work to boost public confidence.
• 10Y Bond Yields – Euro 2.417 %, Australia 4.205%, and Germany 2.417%.

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