U.S. indices closed lower on Tuesday, pressured by shares in the Capital Goods (-1.61%), Telecommunication Services (-1.59%) and Energy (-1.28%) sectors. On the economic data front, the NFIB small business optimism index rose to 101.8 in March (estimated 102.0) from 101.7 in February. The S&P 500 (2,878.20) stays above both its 20d moving average (2,840.66 – positive slope) and 50d moving average (2,788.10 – positive slope).
European markets are expected to start on a flat note.
Foreign Exchange
The US dollar was bullish against all of its major pairs on Tuesday except for the JPY. On the economic data front, the NFIB small business optimism index slightly improved to 101.8 in March (estimated 102) from 101.7 in February.
The Euro was bullish against all of its major pairs except for the JPY. There was no major economic data released in Europe.
The Australian dollar was mixed against its major pairs.
Commodities
After the close of Wall Street, WTI Crude Future (MAY 19) was about flat to $64.1. The contract was above its 20D MA (@ $60.61) and above its 50D MA (@ $57.76). The 14d RSI above 70 (72.98) indicates WTI Crude Future (MAY 19) was overbought.
Gold was up $7.1 to $1304.6. The precious metal was above its 20D MA (@ $1302) and below its 50D MA (@ $1308).
Copper Future (MAY 19) on Comex was about flat to 293.3c/lb. The contract was above its 20D MA (@ 290.32c) and above its 50D MA (@ 287.98c). In Europe, the London Metal Exchange reported its copper inventories increased 725 tons to 198275 tons.