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(Kitco News) –Global stock markets were mixed overnight. European stock indexes were mostly weaker, while Asian shares were mostly firmer. U.S. stock indexes are pointed toward slightly lower openings when the New York day session begins.
Slipping oil prices this week are a bearish element for world share prices.
Goldman Sachs reportedly said oil prices could fall below $40.00 a barrel if OPEC cannot move to further curtail its oil production.
Gold prices are modestly lower Tuesday morning and trading not far above the key psychological support level of $1,200.00.
There were no major markets news events occurring overnight to move the markets. Attention of the marketplace is on remarks that come from officials from the world's major central banks, amid generally more hawkish tones on monetary policies coming from the central bankers.
The key "outside markets" on Tuesday morning see Nymex crude oil futures weaker and trading around $44.00 a barrel. The oil market bears are in firm near-term technical control. Meantime, the U.S. dollar index is modestly higher early today. The greenback bears also have the firm near-term technical advantage amid a price downtrend.
U.S. economic data due for release Tuesday includes the weekly Goldman Sachs and Johnson Redbook retail sales reports, the NFIB small business index, and monthly wholesale trade. The U.S. data pace picks up markedly Wednesday and the rest of this week, including testimony to Congress from Federal Reserve Chair Janet Yellen, the producer price index, consumer price index and retail sales.