U.S. indices closed higher on Monday lifted by shares in the Media (+1.68%), Consumer Durables & Apparel (+1.53%) and Technology Hardware & Equipment (+1.52%) sectors. On the economic data front, Durable goods orders gained 2.1% MoM in July (vs +1.2% expected), driven by a demand for Boeing Planes. Durable goods orders ex-transportation slid -0.4% (vs 0.0% expected). Core capital goods shipments ex-aircraft dropped 0.7% (vs +0.1% expected), the first decline since March. The S&P 500 (2,878.38) breaks below its 20d moving average (2,9063.38 – negative slope) and remains below its 50d moving average (2,946.65 – flat 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 higher against all of its major pairs on Monday with the exception of the AUD and CAD. On the economic data front, Durable goods orders gained 2.1% beating the 1.2% increase estimate in July driven by a demand for Boeing Planes compared to a revised 1.8% in June. Orders ex-Transportation slid -0.4%. Core capital goods shipments ex-aircraft dropped for the first time since March.
The Euro was Under pressure against most of its major pairs with the exception of the CHF and JPY. In Europe, the Germany IFO business climate index fell to 94.3 in August (95.1 expected) from 95.8 a month earlier. The sub-index for expectations reached a low since June 2009 at 91.3 while the sub-index for current assessment was at 97.3, the lowest since November 2014.
The Australian dollar was higher against all of its major pairs.<\/p>\n\n\n\n