Market Comment
US indices declined on Monday, pressured by shares in the Automobiles & Components, Capital Goods and Real Estate sectors. The S&P 500 (1877.17) remains above its 20d moving average (1846.5 - positive slope) and its 50d moving average (1827.8 - positive slope).
European markets are expected to start on a flat note.
European markets are expected to start on a flat note.
Foreign Exchange
US Dollar was mixed against most of its major counterparts on Monday. On the US economic data front, no major news was released.
The Euro was mixed against its major counterparts. In Europe, euro zone Sentix investor confidence index was up to 13.9 in March vs 13.3 in February. Economists expected the index to be 14. French industrial production was down by 0.2% in January after a 0.6% decline in December (revised from -0.3%). Consensus was a 0.3% increase.
The Euro was mixed against its major counterparts. In Europe, euro zone Sentix investor confidence index was up to 13.9 in March vs 13.3 in February. Economists expected the index to be 14. French industrial production was down by 0.2% in January after a 0.6% decline in December (revised from -0.3%). Consensus was a 0.3% increase.
Commodities
After the close of Wall Street, WTI Crude Future (APR 14) was down $1.5 to $101.08. The contract was above its 20D MA (@ $95.67) and above its 50D MA (@ $96.35).
Gold was about flat to $1340.3. The precious metal was above its 20D MA (@ $1327) and above its 50D MA (@ $1278).
Copper Future (MAY 14) on Comex was down 3.8c to 304.45c/lb. The contract was below its 20D MA (@ 330.62c) and below its 50D MA (@ 326.76c). The 14d RSI below 30 (24.05) indicates Copper Future (MAY 14) contract was oversold. In Europe, the London Metal Exchange reported its copper inventories decreased 3600 tons to 265400 tons.
Gold was about flat to $1340.3. The precious metal was above its 20D MA (@ $1327) and above its 50D MA (@ $1278).
Copper Future (MAY 14) on Comex was down 3.8c to 304.45c/lb. The contract was below its 20D MA (@ 330.62c) and below its 50D MA (@ 326.76c). The 14d RSI below 30 (24.05) indicates Copper Future (MAY 14) contract was oversold. In Europe, the London Metal Exchange reported its copper inventories decreased 3600 tons to 265400 tons.
European Markets
ECB: Publication of the Consolidated Financial Statement of the Eurosystem (3pm CET)
Today's Economic Events
UK 09:30: JAN Industrial Production (MoM): NA
GE 07:00: JAN Current Account (Bln): NA
GE 07:00: JAN Trade Balance (Bln): NA
GE 07:00: JAN Imports (MoM): NA
GE 07:00: JAN Exports (MoM): NA
UK 09:30: JAN Manufacturing Production (MoM): NA
UK 15:00: FEB GDP Estimate (NIESR): NA
US 14:00: JAN Wholesale Inventories: 0.5%
GE 07:00: JAN Current Account (Bln): NA
GE 07:00: JAN Trade Balance (Bln): NA
GE 07:00: JAN Imports (MoM): NA
GE 07:00: JAN Exports (MoM): NA
UK 09:30: JAN Manufacturing Production (MoM): NA
UK 15:00: FEB GDP Estimate (NIESR): NA
US 14:00: JAN Wholesale Inventories: 0.5%
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