The January platinum contract made a large downside move overnight, which some traders feel may be the result of sagging European auto sector projections or from the failure to get a definitive plan in place to contain the Euro zone crisis. Other traders have expressed surprise that platinum showed almost no reaction to news that China cut their bank reserve requirements overnight, and there is some question whether the platinum market will find any support from favorable US scheduled news from the employment sector later this morning. Japanese Industrial Production during October was up 2.4%, higher than forecasts and may be an early sign of stronger Japanese industrial platinum demand during the rest of this year.