U.S. indices closed in the red on Friday pressured by shares in the Real Estate (-1.69%), Utilities (-1.45%) and Media (-1.4%) sectors. On the economic data front, the University of Michigan Sentiment index rose to 98.4 in preliminary estimates in July (estimated 98.8) from 98.2 in the prior month. The S&P 500 (2,976.61) stays above its 20d moving average (2,972.70 – positive slope) and its 50d moving average (2,899.69 – 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 bullish against all its major pairs on Friday. On the economic data front, the University of Michigan Sentiment index reached 98.4 in preliminary estimates in July (estimated 98.8) compared with 98.2 in the prior year.
The Euro was bearish against all of its major pairs. In Europe, Germany Producer Price Index fell 0.4% in June after a decline of 0.1% the month before and -0.1% expected.
The Australian dollar was bearish against all of its major pairs with the exception of the EUR.<\/p>\n\n\n\n