US market in red on tepid data, Fed looms

FXstreet.com (Edinburgh) - Consumer confidence below expectations and grim data from the US industrial sector are combining to drag indices to the red territory on Friday. The greenback, measured by the US Dollar Index, remains capped by the key resistance at 81.00, currently trading on the back foot around 80.70. DowJones is losing 0.56% followed by the Nasdaq, 0.46% and the S&P500, 0.41%.

Bourses in Euroland closed in the positive ground with the exception of the Spanish benchmark, falling marginally 0.01%. The European indices posted its fourth straight weekly close in red, as market participants remained cautious ahead of the next FOMC meeting. The DAX advanced 0.40%, ahead of the CAC40, 0.19% and the FTSE100, 0.06%. The single currency is closing the week with strong gains, although now retreating to the 1.3320 area after hitting multi-month tops in the vicinity of 1.3400.

In the commodities’ space, both the barrel of WTI and the ounce troy of the precious metal are posting gains, gaining 1.18% at $97.83 and 0.74% at $1,388, respectively.