U.S. indices closed lower on Tuesday pressured by shares in the Banks (-1.58%), Insurance (-1.33%) and Food, Beverage & Tobacco (-1.28%) sectors. On the economic data front, there was no news to report. The S&P 500 (2,900.51) trades below its 20d moving average (2,946.07 – negative slope) and below its 50d moving average (2,931.35 – flat slope).
European markets are expected to open on a flat note.
Foreign Exchange
The US dollar was under pressure against all of its major pairs on Tuesday. On the economic data front, there was no news to report.
The Euro was lower against the GBP and JPY and higher against the USD. In Europe, German PPI index was up by 0.1% in July after a 0.4% decline in June. It was anticipated to be flat.
The Australian dollar was mixed against all of its major pairs.
Commodities
After the close of Wall Street, WTI Crude Future (OCT 19) was about flat to $55.91. The contract was above its 20D MA (@ $55.32) and below its 50D MA (@ $56.22).
Gold was up $11.3 to $1507.2. The precious metal was above its 20D MA (@ $1471) and above its 50D MA (@ $1427).
Copper Future (DEC 19) on Comex was down 2.8c to 258c/lb. The contract was below its 20D MA (@ 263.06c) and below its 50D MA (@ 266.94c). In Europe, the London Metal Exchange reported its copper inventories decreased 525 tons to 329600 tons.