General Market Comment
US markets were closed on Monday for Washington’s Birthday. The S&P 500 (2,775.60) stays above its 20d moving average (2,698.10 – positive slope) and 50d moving average (2,615.74 – flat slope).
European markets are expected to start on a flat note.
Foreign Exchange
The US dollar was mixed against all of its major pairs on Monday. Wall Street was closed for Washington’s Birthday.
The Euro was bearish against all of its major pairs. In Europe, according to Rightmove, the house prices in UK rose by 0.7% in February after a 0.4% increase a month earlier.
The Australian dollar lower against all of its major pairs with the exception of the NZD.
Commodities
After the close of Wall Street, WTI Crude Future (MAR 19) was about flat to $56.06. The contract was above its 20D MA (@ $53.7) and above its 50D MA (@ $51.27).
Gold was up $5.4 to $1326.9. The precious metal was above its 20D MA (@ $1309) and above its 50D MA (@ $1287).
Copper Future (MAY 19) on Comex was up 3.6c to 283.95c/lb. The contract was above its 20D MA (@ 276.97c) and above its 50D MA (@ 272.2c). In Europe, the London Metal Exchange reported its copper inventories decreased 3000 tons to 140175 tons.