U.S. indices closed higher to finish the week on Friday as the S&P500 reached a record close. Shares in the Automobiles & Components (+4.22%), Household & Personal Products (+2.34%) and Health Care Equipment & Services (+1.39%) sectors gained traction. On the economic data front, annualized GDP advanced by 3.2% QoQ in 1Q (estimated +2.3%, +2.2% in 4Q). In other news, the University of Michigan sentiment index rose to 97.2 in April (expected 97) from 96.9 in March. The S&P 500 (2,939.88) stays above both its 20d moving average (2,896.27 – positive slope) and 50d moving average (2,835.90 – positive slope).
European markets are expected to start on a flat 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 Friday. On the economic data front, annualized GDP advanced by 3.2% QoQ in 1Q (estimated 2.3%) from 2.2% in the previous quarter. Also, personal consumption improved by 1.2% in 1Q (forecasted 1%) compared to 2.5% in the prior quarter. In other news, the University of Michigan sentiment index improved to 97.2 in April (expected 97) vs. 96.9 in March.
The Euro was bullish against all of its major pairs except for the NZD and the AUD. French consumer confidence was flat in April at 96 (97 expected)
The Australian dollar was higher against all of its major pairs with the exception of the NZD.
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