U.S. indices closed higher on Monday, boosted by shares in the Technology Hardware & Equipment (+2.87%), Semiconductors & Semiconductor Equipment (+2.36%) and Media (+1.99%) sectors. On the economic data front, retail sales rose 0.2% MoM in January (estimated to remain flat, -1.6% in December). The S&P 500 (2,783.30) breaks above its 20d moving average (2,773.03 – positive slope) and remains above its 50d moving average (2,680.24 – positive slope).
European markets are expected to start on a positive note.<\/p>\n\n\n\n
Foreign Exchange<\/strong><\/p>\n\n\n\n The US dollar was bearish against all of its major pairs on Monday with the exception of the CHF and JPY. On the economic data front, retail sales improved by 0.2% MoM in January (estimated to remain flat) from a decline of 1.6% in December.
The Euro was mixed against its major pairs. The German industrial production fell 0.8% in January (+0.5% expected) after a 0.8% increase the month before (revised from -0.4%). Separately, Germany trade balance excess widened to E14.5B in January (E15.2 anticipated) from E14.3 in December. Exports were flat while imports increased 1.5%.
The Australian dollar was higher against all of its major pairs with the exception of the GBP and the NZD.
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