U.S. indices closed slightly lower after reaching a record high earlier in the day on Friday pressured by shares in the Real Estate (-1.1%), Consumer Services (-0.88%) and Insurance (-0.78%) sectors. On the economic data front, Market Manufacturing PMI dropped to 50.1 for June in preliminary estimates (estimated 50.5) from 50.5 in the prior month. Also, existing home sales rose to annualized rate of 5.34M in May (estimated 5.30M) from 5.21M in the previous month. The S&P 500 (2,950.46) stays above its 20d moving average (2,855.63 – positive slope) and its 50d moving average (2,878.03 – 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 mixed against its major pairs on Friday. On the economic data front, Market US Manufacturing PMI reached 50.1 for June in preliminary estimates (estimated 50.5) compared with 50.5 in the prior month. Next, Existing Home Sales reached 5.34M in May (estimated 5.3M) vs. 5.21M in the previous month.
The Euro was bullish against all of its major pairs. In Europe, the euro-zone PMI composite index increased to 52.1 in June in first estimation (52 expected), a seven month high, up from 51.8 a month earlier.
The Australian dollar was mixed against all of its major pairs with the exception of the EUR, GBP and CHF.<\/p>\n\n\n\n