U.S. indices closed slightly lower on Friday pressured by shares in the Pharmaceuticals, Biotechnology & Life Sciences (-1.33%), Household & Personal Products (-0.84%) and Semiconductors & Semiconductor Equipment (-0.64%) sectors. On the economic data front, Nonfarm payrolls increased 244,000 in June (vs. +160,000 expected, +72,000 in May), while jobless rate rose to 3.7% (vs. 3.6% expected) from 3.6%. The S&P 500 (2,990.41) stays above its 20d moving average (2,925.48 – positive slope) and its 50d moving average (2,885.71 – positive slope).
European markets are expected to start on a negative note.
Foreign Exchange
The US dollar was bullish against all its major pairs on Friday. On the economic data front, Nonfarm Payrolls increased by 244K in June (estimated 160K) compared with a 72K increase in the previous month. The unemployment rate slightly increased to 3.7% in June (estimated 3.6%) compared with 3.6% in the previous month.
The Euro was mixed against all of its major pairs. In Europe, the German factory orders plunged by 8.6% YoY in May after a 5.3% slid in April. They were expected to be down by 6.2%. According to Halifax, the UK house prices fell by 0.3% in June (-0.4% anticipated) after a 0.4% rise a month earlier.
The Australian dollar was mixed against all of its major pairs.
Commodities
After the close of Wall Street, WTI Crude Future (AUG 19) was about flat to $57.61. The contract was above its 20D MA (@ $55.79) and below its 50D MA (@ $58.53).
Gold was down $15.8 to $1400.3. The precious metal was above its 20D MA (@ $1381) and above its 50D MA (@ $1327).
Copper Future (SEP 19) on Comex was down 1.8c to 266.55c/lb. The contract was below its 20D MA (@ 268.19c) and below its 50D MA (@ 272.15c). In Europe, the London Metal Exchange reported its copper inventories increased 31450 tons to 302975 tons.