U.S. indices closed lower on Monday pressure by shares in the Technology Hardware & Equipment (-2.65%), Semiconductors & Semiconductor Equipment (-1.6%) and Energy (-1.35%) sectors. On the economic data front, the ISM Non-Manufacturing Index dropped to 53.7 in July (vs. 55.5 estimated) from 55.1 in June. Also, the final readings of July Markit U.S. Services PMI posted 53.0 in July (vs. 52.2 expected and preliminary). The S&P 500 (2,844.74) trades below its 20d moving average (2,987.27 – negative slope) and breaks below its 50d moving average (2,928.01 – flat 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 bearish against all of its major pairs on Monday with the exception of the AUD. On the economic data front, the Markit US Services PMI increased to 53 in July (estimated 52.2) from 52.2 in the prior month. The ISM Non-Manufacturing Index decreased to 53.7 in July (estimated 55.5) from 55.1 in the prior month.
The Euro was bullish against all of its major pairs. In Europe, the euro-zone PMI composite index was 51.5 in final reading in July, as in first one, vs 52.2 in June. The UK PMI composite index increased to 50.9 in July (49.8 expected) from 49.7 a month earlier.
The Australian dollar was bearish against all its major pairs.<\/p>\n\n\n\n