US markets closed flat overnight

Tuesday, 5 April 2011 07:27

US markets closed flat overnight as M&A activity helped indices eke out small gains ahead of first quarter reporting which starts next week. Brent crude topped $120 a barrel on concerns over the impact on supply from unrest in the Middle East, while corn surged to match a record-high price set during the 2008 global food crisis.

The CME ended some 25-points above yesterday's Tokyo cash finish. The DXY closed a tad higher at ard 75.90 with the EUR little changed at ard 1.4223 and likewise the YEN at ard 84.06. The CRB gained 0.4% to ard 362.18 as silver added 2.3% as crude oil and gold gained 0.4%. Cooper, aluminium and nickel were all lower. Wheat gained 3.9% and corn was 3.3% firmer. In Japan today, there are no significant data releases scheduled.