USD built modest gains in US afternoon trading; Australia GDP report ahead.
Last night, US trade gap deteriorated as exports weakened. Imports were weaker as well further impacting the deterioration in the US trade number
Overnight most base metals fell, including oil as OPEC output continues to rise. OPEC boosted production to 34.16 million barrels a day last month. Copper prices fell as investors took-profits after the previous session’s rally. Chinese copper demand has been growing at a rate of around 4.5-5% so far this year. Zinc closed up 1.2% at USD2800 a tonne.
GBP fell against the USD on bets that the British government would lose a legal battle to trigger the Brexit process without parliamentary approval.