U.S. indices closed higher on Tuesday lifted by defensive stocks in the Telecommunication Services (+1.84%), Real Estate (+1.82%) and Utilities (+1.24%) sectors. On the economic data front, U.S. annualized total vehicle sales posted 17.3M in June (vs. 17.0M expected and 17.3M in May). The S&P 500 (2,973.01) stays above its 20d moving average (2,909.65 – positive slope) and its 50d moving average (2,883.20 – 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 its major pairs on Tuesday except the GBP. On the economic data front, U.S. total vehicle sales reached 17.3M in June (estimated 17M) compared with 17.3M in the prior month.
The Euro was mixed against all of its major pairs with the exception of the AUD and CHF. In Europe, German retail sales fell by 0.6% in May after a 1% slide a month earlier (revised from -2%). They were expected to be up 0.5%. According to Nationwide, UK house prices were up by 0.1% in June after 0.2% rise in May. The consensus anticipated a 0.2% rise. Separately, the UK PMI construction index dropped to 43.1 in June (49.2 expected) from 48.6 in May.
The Australian dollar was bullish against all of its major pairs with the exception of the JPY.<\/p>\n\n\n\n