U.S. indices closed higher on Friday lifted by shares in the Automobiles & Components (+2.51%), Semiconductors & Semiconductor Equipment (+2.12%) and Transportation (+2.04%) sectors. On the economic data front, PPI rose 1.7% YoY in June (vs +1.6% expected, +1.8% in May). The S&P 500 (3,013.77) stays above its 20d moving average (2,952.73 – positive slope) and its 50d moving average (2,891.38 – positive slope).
European markets are expected to start on a positive note.
Foreign Exchange
The US dollar was bearish against all its major pairs on Friday. On the economic data front, PPI Final Demand ticked up by 0.1% in June (estimated 0%) compared with 0.1% in the previous month.
The Euro was bearish against all of its major pairs with the exception of the USD. In Europe, the euro-zone industrial production increased by 0.9% in May after a 0.4% decrease a month earlier. Economists anticipated a 0.2% rise.
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 $60.28. The contract was above its 20D MA (@ $57.36) and above its 50D MA (@ $58.06).
Gold was up $10.8 to $1414.5. The precious metal was above its 20D MA (@ $1399) and above its 50D MA (@ $1340).
Copper Future (SEP 19) on Comex was about flat to 269.55c/lb. The contract was above its 20D MA (@ 268.6c) and below its 50D MA (@ 270.05c). In Europe, the London Metal Exchange reported its copper inventories decreased 1800 tons to 288200 tons.