US indices closed higher on Monday, led by shares in the Semiconductors & Semiconductor Equipment (+2.34%), Retailing (+1.66%) and Automobiles & Components (+1.44%) sectors. On the economic data front, there was no news to report. The S&P 500 (2,886.73) stays above its 20d moving average (2,827.30 – flat slope) and its 50d moving average (2,871.90 – positive 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 news to report.
The Euro was bullish against all of its major pairs with the exception of the USD. In Europe, UK GDP fell by 0.4% in April (-0.1% expected), its biggest monthly slide since March 2016, after a 0.1% decrease in March. Separately, the UK industrial production dropped by 2.7% in April (-1% anticipated) after a 0.7% increase a month earlier.
The Australian dollar was bearish against all of its major pairs.
Commodities
After the close of Wall Street, WTI Crude Future (JUL 19) was down $0.7 to $53.31. The contract was below its 20D MA (@ $58.1) and below its 50D MA (@ $61.25).
Gold was down $12.3 to $1328.5. The precious metal was above its 20D MA (@ $1299) and above its 50D MA (@ $1290).
Copper Future (JUL 19) on Comex was up 3.3c to 266c/lb. The contract was below its 20D MA (@ 268.53c) and below its 50D MA (@ 280.66c). In Europe, the London Metal Exchange reported its copper inventories decreased 225 tons to 211350 tons.