U.S. indices closed slightly positive ahead of the Fed meeting lifted by shares in the Media (+1.48%), Real Estate (+1.12%) and Energy (+0.91%) sectors. On the economic data front, the Empire Manufacturing Index dropped to -8.6 in June (estimated 11.0) from 17.8 in May. The S&P 500 (2,889.67) stays above its 20d moving average (2,837.34 – flat slope) and its 50d moving average (2,873.34 – flat slope).
European markets are expected to open on a flat note.
Foreign Exchange
The US dollar was bullish against all of its major pairs on Monday except the EUR. On the economic data front, the Empire Manufacturing survey reported -8.6 for June (estimated 11), down from 17.8 for May.
The Euro was bullish against all of its major pairs. In Europe, according to Rightmove, the UK house prices increased 0.3% in June after being up 0.9% in May.
The Australian dollar was under pressure against all of its major pairs with the exception of the GBP.
Commodities
After the close of Wall Street, WTI Crude Future (JUL 19) was down $0.6 to $51.95. The contract was below its 20D MA (@ $55.59) and below its 50D MA (@ $60.28).
Gold was about flat to $1340. The precious metal was above its 20D MA (@ $1311) and above its 50D MA (@ $1295).
Copper Future (SEP 19) on Comex was up 1.6c to 264.7c/lb. The contract was below its 20D MA (@ 266.65c) and below its 50D MA (@ 278.34c). In Europe, the London Metal Exchange reported its copper inventories decreased 1075 tons to 251350 tons.