U.S. indices closed higher boosted by shares in the Banks (+2.37%), Transportation (+1.41%) and Energy (+1.19%) sectors. On the economic data front, personal income increased by 0.5% MoM in May (vs. +0.3% expected) and personal spending rose 0.4% (vs. +0.5% expected). The MNI Chicago PMI dropped to 49.7 in June (vs. 53.5 expected) from 54.2 May. Also, the University of Michigan Sentiment index was confirmed at 98.2 in June (vs. 97.9 expected). The S&P 500 (2,941.76) stays above its 20d moving average (2,890.17 – positive slope) and its 50d moving average (2,880.71 – flat 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 its major pairs on Friday. On the economic data front, Personal Income increased by 0.5% in May (estimated 0.3%) compared with 0.5% in the previous month. Personal Spending increased by 0.4% in May (estimated 0.5%) compared with 0.6% in the prior month. MNI Chicago PMI decreased to 49.7 in June (estimated 53.5) compared with 54.2 in the previous month. Lastly, the University of Michigan Sentiment index reached 98.2 in June in final estimation (estimated 97.9) compared with 97.9 in the previous month.
The Euro was bearish against all of its major pairs with the exception of the GBP. In Europe, the euro zone economic confidence index fell to 103.3 in June, the lowest since 2016, vs 104.8 expected and 105.2 in May. The German CPI index was up 1.6% in June YoY in first estimation vs 1.4% a month earlier. It was anticipated to be 1.4%.
The Australian dollar was bullish against all of its major pairs with the exception of the GBP.<\/p>\n\n\n\n