U.S. indices closed lower on Monday pressured by shares in the Technology Hardware & Equipment (-1.71%), Pharmaceuticals, Biotechnology & Life Sciences (-1.08%) and Materials (-1.06%) sectors. On the economic front, consumer credit increased $17.09B in May (vs. +$17.00B expected). The S&P 500 (2,975.95) stays above its 20d moving average (2,930.61 – positive slope) and its 50d moving average (2,886.70 – positive slope).
European markets are expected to start on a negative note.<\/p>\n\n\n\n
Foreign Exchange<\/strong><\/p>\n\n\n\n The US dollar was bullish against all its major pairs on Monday. There was no economic news to report.
The Euro was bullish against all of its major pairs with the exception of the NZD and GBP. In Europe, the euro-zone Sentix investor confidence index slid to -5.8 for July (0.1 expected) from -3.3 in June. Germany industrial production rose by 0.3% in May (+0.4% anticipated) after a 2% decline a month earlier (revised from -1.9%).
The Australian dollar was bearish against all of its major pairs.<\/p>\n\n\n\n