{"id":1214,"date":"2018-11-12T10:12:10","date_gmt":"2018-11-12T09:12:10","guid":{"rendered":"https:\/\/inscx.com\/trading\/?p=1214"},"modified":"2018-11-12T10:12:10","modified_gmt":"2018-11-12T09:12:10","slug":"general-market-comment-09-11-18","status":"publish","type":"post","link":"https:\/\/inscx.com\/trading\/2018\/11\/12\/general-market-comment-09-11-18\/","title":{"rendered":"General Market Comment 09.11.18"},"content":{"rendered":"<p><strong>General Market Comment<\/strong><\/p>\n<p>US indices closed lower to finish the week on Friday. Shares in the Technology Hardware &amp; Equipment (-2.1%), Automobiles &amp; Components (-1.85%) and Retailing (-1.8%) sectors ended in the red zone. On the economic data front, PPI final demand improved by 0.6% MoM in October (estimated 0.2%) from 0.2% in the previous month. Wholesale inventories advanced by 0.4% MoM in September (forecasted 0.3%) compared to 0.3% a month earlier. Finally, the University of Michigan sentiment index reached a preliminary estimate of 98.3 in November (expected 98) vs. 98.6 in October. The S&amp;P 500 (2,781.01) remains above its 20d moving average (2,740.90 &#8211; flat slope) but stays below 50d moving average (2,829.05 &#8211; negative slope).<\/p>\n<p>European markets are expected to start on a positive note.<\/p>\n<p><strong><span style=\"color: #444444;\">Foreign Exchange<\/span><\/strong><\/p>\n<p>The US dollar was bullish against most of its major pairs on Friday with the exception of the JPY. On the economic data front, PPI final demand improved by 0.6% MoM in October (estimated 0.2%) from 0.2% in the previous month. Wholesale inventories advanced by 0.4% MoM in September (forecasted 0.3%) compared to 0.3% a month earlier. Finally, the University of Michigan sentiment index reached a preliminary estimate of 98.3 in November (expected 98) vs. 98.6 in October.<\/p>\n<p>The Euro was mixed against its major pairs. The UK trade deficit narrowed more than expected to \u00a327m in Sept from \u00a32.1B in Aug. Economists anticipated a deficit of \u00a31.5B. Still in the UK, the GDP advanced 0.6% after expanding 0.4% a quarter ago. The growth rate matched economists expectations. Industrial production remained unchanged for the second straight month in September. Economists anticipated a 0.1% drop in output. At the same time, manufacturing output gained 0.2%, in contrast to a 0.1% fall in August and 0.1% increase expected.<\/p>\n<p>The Australian dollar was lower against most of its major pairs except for the GBP.<\/p>\n<p><strong><span style=\"color: #444444;\">Commodities<\/span><\/strong><\/p>\n<p>After the close of Wall Street, WTI Crude Future (DEC 18) was down $0.8 to $59.85. The contract was below its 20D MA (@ $66.07) and below its 50D MA (@ $69.08). The 14d RSI below 30 (19.59) indicates WTI Crude Future (DEC 18) was oversold.<\/p>\n<p>Gold was down $14.5 to $1209.5. The precious metal was below its 20D MA (@ $1227) and below its 50D MA (@ $1210).<\/p>\n<p>Copper Future (DEC 18) on Comex was down 5.7c to 267.95c\/lb. The contract was below its 20D MA (@ 274.59c) and below its 50D MA (@ 274.05c). In Europe, the London Metal Exchange reported its copper inventories decreased 1275 tons to 171050 tons.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>General Market Comment US indices closed lower to finish the week on Friday. Shares in the Technology Hardware &amp; Equipment (-2.1%), Automobiles &amp; Components (-1.85%) and Retailing (-1.8%) sectors ended in the red zone. On the economic data front, PPI final demand improved by 0.6% MoM in October (estimated 0.2%) from 0.2% in the previous &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/inscx.com\/trading\/2018\/11\/12\/general-market-comment-09-11-18\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;General Market Comment 09.11.18&#8221;<\/span><\/a><\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1214","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>General Market Comment 09.11.18 - INSCX Live Trading Platform<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/inscx.com\/trading\/2018\/11\/12\/general-market-comment-09-11-18\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"General Market Comment 09.11.18 - INSCX Live Trading Platform\" \/>\n<meta property=\"og:description\" content=\"General Market Comment US indices closed lower to finish the week on Friday. Shares in the Technology Hardware &amp; Equipment (-2.1%), Automobiles &amp; Components (-1.85%) and Retailing (-1.8%) sectors ended in the red zone. 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Shares in the Technology Hardware &amp; Equipment (-2.1%), Automobiles &amp; Components (-1.85%) and Retailing (-1.8%) sectors ended in the red zone. 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