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Notes/observations - European equity markets continued upward trajectory. Luxury sector was a significant driver, with Burberry leading with a 13% surge after healthier comparable sales. Data from flash PMIs showed strong beat in manufacturing from UK, France, Germany and Eurozone with mixed results

The Japanese yen is slightly lower on Thursday. In the European session, USD/JPY is trading at 156.25, down 0.16% on the day. BoJ expected to hike rates All eyes are on the Bank of Japan, which meets early on Friday. The BoJ is expected to raise interest rates by 25 basis points which would bring th

Corn (ZC) surged more than 2% Friday (on the December contract), forming a higher January high versus the December high, which in itself was higher than the November high. A higher January low vs December low is all but assured, and would reinforce the higher December low vs the November low. ZC has

Oil prices traded weaker yesterday with ICE Brent falling back below US$82/bbl. From a technical point of view, the market is in overbought territory and so overdue a correction. However, mounting supply risks continue to provide broad support to oil prices, ING's commodity analysts Warren Patterson