U.S. indices closed mixed on Tuesday. Shares in the Food & Staples Retailing (-2.92%), Telecommunication Services (-1%) and Energy (-0.7%) sectors pulled back while shares in the Technology Hardware & Equipment (+1.08%), Real Estate (+0.86%) and Media (+0.75%) sectors gained a bit of strength. On the economic data front, durable goods orders dropped 1.6% MoM in February (estimated -1.8%, +0.1% in January). The S&P 500 (2,867.24) stays above both its 20d moving average (2,811.60 – positive slope) and 50d moving average (2,764.16 – positive slope).
European markets are expected to start on a positive note.
Foreign Exchange
The US dollar was bullish against all of its major pairs on Tuesday with the exception of the GBP. On the economic data front, durable goods orders decreased by 1.6% in a preliminary estimate in February (estimated -1.8%) from an improvement of 0.1% a month earlier.
The Euro was bearish against all of its major pairs with the exception of the NZD, the AUD and the CAD. The UK PMI construction index rose to 49.7 in March (49.8 expected) from 49.5 a month earlier
The Australian dollar was lower against all of its major pairs except for the NZD.
Commodities
After the close of Wall Street, WTI Crude Future (MAY 19) was up $1.1 to $62.67. The contract was above its 20D MA (@ $59.03) and above its 50D MA (@ $56.79). The 14d RSI above 70 (72.23) indicates WTI Crude Future (MAY 19) was overbought.
Gold was up $3.8 to $1291.6. The precious metal was below its 20D MA (@ $1301) and below its 50D MA (@ $1308).
Copper Future (MAY 19) on Comex was down 1.4c to 291c/lb. The contract was above its 20D MA (@ 290.02c) and above its 50D MA (@ 285.57c). In Europe, the London Metal Exchange reported its copper inventories decreased 1100 tons to 167425 tons.