General Market Comment
US indices closed mixed on Monday. Shares in the Software & Services (-1.63%), Semiconductors & Semiconductor Equipment (-0.91%) and Health Care Equipment & Services (-0.6%) sectors closed lower while shares in the Food & Staples Retailing (+1.76%), Food, Beverage & Tobacco (+1.49%) and Real Estate (+1.32%) sectors gained momentum. The S&P 500 (2,884.43) stays below its 20d moving average (2,908.07 – flat slope) but remains above 50d moving average (2,878.43 – positive slope).
European markets are expected to start on a flat note.
Foreign Exchange
The US dollar was mixed against its major pairs on Monday. On the economic data front, there was no news to report.
The Euro was bearish against all of its major pairs. German industrial production fell 0.3% in August after a 1.1% drop a month earlier. Economists anticipated a 0.3% rise.
The Australian dollar was higher against most of its major pairs with the exception of the JPY.
Commodities
After the close of Wall Street, WTI Crude Future (NOV 18) was about flat to $74.25. The contract was above its 20D MA (@ $71.88) and above its 50D MA (@ $69.06).
Gold was down $14.9 to $1188.1. The precious metal was below its 20D MA (@ $1198) and below its 50D MA (@ $1200).
Copper Future (DEC 18) on Comex was about flat to 277c/lb. The contract was above its 20D MA (@ 275.75c) and above its 50D MA (@ 273.01c). In Europe, the London Metal Exchange reported its copper inventories decreased 4825 tons to 181975 tons.