General Market Comment: 14.08.18
US indices closed lower on Monday, dragged by shares in the Automobiles & Components (-1.98%), Consumer Durables & Apparel (-1.45%) and Banks (-1.4%) sectors. On the economic data front, no major data was released yesterday. The S&P 500 (2,821.93) breaks below its 20d moving average (2,826.82 – positive slope) and 50d moving average (2,786.59 – positive slope).
European markets are expected to start on a flat note.
Foreign Exchange
The US dollar was mixed against its major pairs on Monday. On the economic data front, no major data was released yesterday.
The Euro was bearish against its major pairs with exception of the NZD and the AUD. In Europe, there was no major economic data yesterday.
The Australian dollar was bearish against all of its major pairs.
Commodities
After the close of Wall Street, WTI Crude Future (SEP 18) was about flat to $67.32. The contract was below its 20D MA (@ $68.32) and below its 50D MA (@ $68.1).
Gold was down $18 to $1193.7. The precious metal was below its 20D MA (@ $1218) and below its 50D MA (@ $1248).
Copper Future (SEP 18) on Comex was down 1.1c to 273.2c/lb. The contract was below its 20D MA (@ 276.5c) and below its 50D MA (@ 292.76c). In Europe, the London Metal Exchange reported its copper inventories increased 875 tons to 254400 tons.