The domestic data card is relatively thin in the week ahead, with only the Stanbic/Markit PMI reading for November due on Thursday. While the index reading improved in October, it nevertheless remained below the 50-point neutral mark. Going forward, an unfavorable domestic backdrop and uncertain external environment suggest that private sector operating conditions may struggle to recover meaningfully in the near-term.
China’s robust manufacturing data has set copper up for its best month in 4 years. LME 3m Copper advanced this morning in the Asian session up by some 1.3% to $7608/tonne by 03:45 am local time.