The U.S. market was closed on Monday to celebrate Memorial Day. On Friday, U.S. indices closed higher, boosted by shares in the Banks (+1.09%), Telecommunication Services (+0.67%) and Health Care Equipment & Services (+0.63%) sectors. On the economic data front, durable goods orders declined 2.1% MoM in a preliminary estimate in April (estimated -2.0%, +1.7% in March). The S&P 500 (2,826.06) stays below both its 20d moving average (2,878.30 – negative slope) and 50d moving average (2,873.94 – flat slope).
European markets are expected to start on a flat note.
Foreign Exchange
The US dollar was bullish against all of its major pairs on Monday. On the economic data front, there was no major news to report.
The Euro was bullish against most of its major pairs with the exception of the USD. No major economic data in Europe.
The Australian dollar was lower against all of its major pairs except for the GBP and the JPY.
Commodities
After the close of Wall Street, WTI Crude Future (JUL 19) was up $0.6 to $59.24. The contract was below its 20D MA (@ $61.81) and below its 50D MA (@ $62.3).
Gold was up $3.9 to $1288.7. The precious metal was above its 20D MA (@ $1283) and below its 50D MA (@ $1289).
Copper Future (JUL 19) on Comex was up 1.6c to 271.5c/lb. The contract was below its 20D MA (@ 275.64c) and below its 50D MA (@ 285.07c). In Europe, the London Metal Exchange reported its copper inventories decreased 650 tons to 185175 tons.