U.S. indices closed lower on Monday, pressured by shares in the Transportation (-0.98%), Banks (-0.81%) and Automobiles & Components (-0.8%) sectors. On the economic data front, the Empire Manufacturing Index rose to 10.1 in April (estimated 8.0) from 3.7 in March. The S&P 500 (2,905.58) stays above both its 20d moving average (2,856.39 – positive slope) and 50d moving average (2,805.26 – positive slope).
European markets are expected to start on a positive note.
Foreign Exchange
The US dollar was bullish against all of its major pairs on Monday with the exception of the GBP. On the economic data front, the Empire Manufacturing index jumped to 10.1 in April (estimated 8) from 3.7 in the previous month.
The Euro was bullish against all of its major pairs with the exception of the GBP. According to Rightmove, UK house prices gained 1.1% in April after a 0.4% rise a month earlier.
The Australian dollar was higher against all of its major pairs except for the GBP.
Commodities
After the close of Wall Street, WTI Crude Future (MAY 19) was about flat to $63.53. The contract was above its 20D MA (@ $61.6) and above its 50D MA (@ $58.49).
Gold was down $2.5 to $1287.9. The precious metal was below its 20D MA (@ $1300) and below its 50D MA (@ $1306).
Copper Future (MAY 19) on Comex was down 1.3c to 293.35c/lb. The contract was above its 20D MA (@ 290.58c) and above its 50D MA (@ 289.2c). In Europe, the London Metal Exchange reported its copper inventories decreased 675 tons to 191750 tons.