US indices closed down on Monday, pressured by the Health Care Equipment & Services (-1.29%), Technology Hardware & Equipment (-1.06%) and Utilities (-0.49%) sectors. On the economic data front, no major economic news was released. On Tuesday, economists expect the National Federation of Independent Business’s Small Business Optimism Index to come out at 103.0 for November, up from 102.4 in October.
European markets are expected to start on a flat note.
Foreign Exchange
The US dollar was flat to bullish against most of its major pairs on Monday, with the exception of the CAD and CHF. On the economic data front, no major economic news was released. On Tuesday, economists expect the National Federation of Independent Business’s Small Business Optimism Index to come out at 103.0 for November, up from 102.4 in October.
The Euro was flat to bullish against most of its major pairs with the exception of the CAD and CHF. In Europe, Germany’s Trade Balance for October was reported at 21.5 billion euros (surplus of 19.3 billion euros was expected), Exports were released at 1.2% on month, they were expected at -0.7%. The Sentix Eurozone Investor Confidence Index for December was released at 0.7 (it was expected at -5.3).
The Australian dollar was bearish against most of its major pairs with the exception of the NZD.
Commodities
After the close of Wall Street, WTI Crude Future (JAN 20) was about flat to $58.99. The contract was above its 20D MA (@ $57.42) and above its 50D MA (@ $55.69).
Gold was about flat to $1460.8. The precious metal was below its 20D MA (@ $1465) and below its 50D MA (@ $1481).
Copper Future (MAR 20) on Comex was up 3c to 275.5c/lb. The contract was above its 20D MA (@ 266.59c) and above its 50D MA (@ 265.05c). In Europe, the London Metal Exchange reported its copper inventories decreased 2975 tons to 187850 tons.