U.S. indices closed relatively flat on Monday as traders look towards this week’s upcoming G-20 summit. shares in the Household & Personal Products (+1.08%), Telecommunication Services (+0.58%) and Materials (+0.45%) sectors traded higher while shares in the Transportation (-1.28%), Consumer Durables & Apparel (-1.13%) and Energy (-0.93%) sectors were under pressure. The S&P 500 (2,945.35) stays above its 20d moving average (2,861.55 – positive slope) and its 50d moving average (2,879.17 – positive slope).
European markets are expected to open on a negative note.
Foreign Exchange
The US dollar was bearish against its major pairs on Monday with the exception of the GBP and JPY. On the economic data front, there was no news to report.
The Euro was mixed against its major pairs. In Europe, the German IFO business climate index fell to 97.4 in June, as expected, from 97.9 a month earlier.
The Australian dollar was bullish against all of its major pairs.
Commodities
After the close of Wall Street, WTI Crude Future (AUG 19) was about flat to $57.84. The contract was above its 20D MA (@ $54.53) and below its 50D MA (@ $59.57).
Gold was up $20.3 to $1419.9. The precious metal was above its 20D MA (@ $1337) and above its 50D MA (@ $1303). The 14d RSI above 70 (83.81) indicates gold was overbought.
Copper Future (SEP 19) on Comex was about flat to 270.9c/lb. The contract was above its 20D MA (@ 266.61c) and below its 50D MA (@ 276.05c). In Europe, the London Metal Exchange reported its copper inventories decreased 1325 tons to 244725 tons.