U.S. indices closed mixed on Tuesday. Shares in the Media (+0.9%), Retailing (+0.77%) and Banks (+0.58%) sectors traded higher while shares in the Telecommunication Services (-2.24%), Materials (-1.01%) and Household & Personal Products (-0.88%) sectors were under pressure. On the economic data front, the NFIB Small Business Optimism Index fell to 103.3 in June (vs. 103.1 expected) from 105.0 in May. The S&P 500 (2,979.63) stays above its 20d moving average (2,935.25 – positive slope) and its 50d moving average (2,887.50 – positive slope).
European markets are expected to open on a flat note.
Foreign Exchange
The US dollar was bullish against all its major pairs on Tuesday. On the economic data front, NFIB Small Business Optimism reached 103.3 in June (estimated 103.1) compared with 105 in the previous month.
The Euro was bullish against all of its major pairs with the exception of the CHF. In Europe, the euro-zone Sentix investor confidence index slid to -5.8 for July (0.1 expected) from -3.3 in June. Germany industrial production rose by 0.3% in May (+0.4% anticipated) after a 2% decline a month earlier (revised from -1.9%).
The Australian dollar was bearish against all of its major pairs.
Commodities
After the close of Wall Street, WTI Crude Future (AUG 19) was about flat to $58. The contract was above its 20D MA (@ $56.19) and below its 50D MA (@ $58.27).
Gold was about flat to $1397.3. The precious metal was above its 20D MA (@ $1388) and above its 50D MA (@ $1332).
Copper Future (SEP 19) on Comex was down 3c to 262.85c/lb. The contract was below its 20D MA (@ 268.16c) and below its 50D MA (@ 271.16c). In Europe, the London Metal Exchange reported its copper inventories decreased 2275 tons to 296025 tons.