US indices closed mixed on Tuesday. Shares in the Transportation (-1.36%), Utilities (-1.18%) and Insurance (-0.89%) sectors ended on a negative note while shares in the Semiconductors & Semiconductor Equipment (+1.28%), Automobiles & Components (+1.14%) and Health Care Equipment & Services (+0.98%) sectors gained strength. On the economic data front, factory orders improved by 0.1% in January (estimated 0.3%), the same pace as in December. Also, durable goods orders increased by 0.3% in January (forecasted 0.4%) after advancing by 1.2% in December.
The S&P 500 (2,832.57) stays above both its 20d moving average (2,792.55 – positive slope) and 50d moving average (2,718.79 – positive slope).
European markets are expected to open on a positive note.
Foreign Exchange
The US dollar was bearish against all of its major pairs on Tuesday with the exception of the AUD. On the economic data front, factory orders improved by 0.1% in January (estimated 0.3%), the same pace as in December. Also, durable goods orders increased by 0.3% in January (forecasted 0.4%) after advancing by 1.2% in December.
The Euro was bullish against all of its major pairs except for the CHF. The Germany investor confidence index ZEW bounced to -3.6 in March (-11 expected) from -13.4 a month earlier. UK ILO unemployment rate decreased to 3.9% for the October-January period, its lowest level since 1975. It was anticipated to be flat.
The Australian dollar was lower against all of its major pairs.
Commodities
After the close of Wall Street, WTI Crude Future (APR 19) was about flat to $58.94. The contract was above its 20D MA (@ $57.07) and above its 50D MA (@ $54.88).
Gold was up $3 to $1306.7. The precious metal was below its 20D MA (@ $1307) and above its 50D MA (@ $1305).
Copper Future (MAY 19) on Comex was about flat to 291.9c/lb. The contract was below its 20D MA (@ 292.32c) and above its 50D MA (@ 281.12c). In Europe, the London Metal Exchange reported its copper inventories decreased 2625 tons to 181200 tons.