U.S. indices closed in the red on Friday pressured by shares in the Real Estate (-1.69%), Utilities (-1.45%) and Media (-1.4%) sectors. On the economic data front, the University of Michigan Sentiment index rose to 98.4 in preliminary estimates in July (estimated 98.8) from 98.2 in the prior month. The S&P 500 (2,976.61) stays above its 20d moving average (2,972.70 – positive slope) and its 50d moving average (2,899.69 – positive slope).
European markets are expected to start on a flat note.
Foreign Exchange
The US dollar was bullish against all its major pairs on Friday. On the economic data front, the University of Michigan Sentiment index reached 98.4 in preliminary estimates in July (estimated 98.8) compared with 98.2 in the prior year.
The Euro was bearish against all of its major pairs. In Europe, Germany Producer Price Index fell 0.4% in June after a decline of 0.1% the month before and -0.1% expected.
The Australian dollar was bearish against all of its major pairs with the exception of the EUR.
Commodities
After the close of Wall Street, WTI Crude Future (AUG 19) was up $0.7 to $56.04. The contract was below its 20D MA (@ $58.11) and below its 50D MA (@ $57.56).
Gold was down $20.4 to $1425.7. The precious metal was above its 20D MA (@ $1413) and above its 50D MA (@ $1354).
Copper Future (SEP 19) on Comex was up 3.6c to 274.6c/lb. The contract was above its 20D MA (@ 269.64c) and above its 50D MA (@ 269.18c). In Europe, the London Metal Exchange reported its copper inventories decreased 1575 tons to 296450 tons.