{"id":1386,"date":"2018-12-17T10:19:07","date_gmt":"2018-12-17T09:19:07","guid":{"rendered":"https:\/\/inscx.com\/trading\/?p=1386"},"modified":"2018-12-17T10:19:07","modified_gmt":"2018-12-17T09:19:07","slug":"general-market-comment-14-12-18","status":"publish","type":"post","link":"https:\/\/inscx.com\/trading\/2018\/12\/17\/general-market-comment-14-12-18\/","title":{"rendered":"General Market Comment 14.12.18"},"content":{"rendered":"<p><strong>General Market Comment<\/strong><\/p>\n<p>US indices closed lower as the Dow plunged by appx. 500 pts to finish the week on Friday. Shares in the Pharmaceuticals, Biotechnology &amp; Life Sciences (-3.93%), Food &amp; Staples Retailing (-3.79%) and Technology Hardware &amp; Equipment (-2.93%) sectors were under pressure. On the economic data front, retail sales improved by 0.2% MoM in November (estimated 0.1%) from a rise of 1.1% in October. In other news, industrial production rose by 0.6% MoM in November (forecasted 0.3%) compared to a decline of 0.2% a month earlier. Capacity utilization slightly improved to 78.5% in November (expected 78.6%) vs. 78.1% in October. Also, Markit US composite PMI declined to 53.6 in a preliminary estimate in December vs. 54.7 in November while Markit US services PMI decreased to 53.4 in a preliminary estimate in December from 54.7 in the prior month. Finally, Markit US manufacturing PMI declined to 53.9 in a preliminary estimate in December (estimated 55) vs. 55.3 in the previous month. The S&amp;P 500 (2,599.95) remains below its 20d moving average (2,683.72 &#8211; negative slope) and 50d moving average (2,729.51 &#8211; negative slope).<\/p>\n<p>European markets are expected to open 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 pair on Friday with the exception of the JPY. On the economic data front, retail sales improved by 0.2% MoM in November (estimated 0.1%) from a rise of 1.1% in October. In other news, industrial production rose by 0.6% MoM in November (forecasted 0.3%) compared to a decline of 0.2% a month earlier. Capacity utilization slightly improved to 78.5% in November (expected 78.6%) vs. 78.1% in October. Also, Markit US composite PMI declined to 53.6 in a preliminary estimate in December vs. 54.7 in November while Markit US services PMI decreased to 53.4 in a preliminary estimate in December from 54.7 in the prior month. Finally, Markit US manufacturing PMI declined to 53.9 in a preliminary estimate in December (estimated 55) vs. 55.3 in the previous month.<\/p>\n<p>The Euro was bearish against most of its major pairs with the exception of the AUD and the NZD. The EU27 new car registrations plunged 8% in November after a 7.3% drop a month earlier. The euro-zone PMI manufacturing index fell to 51.4 for December in first estimation (51.8 expected) from 51.8 in November. Separately, the euro-zone PMI services index declined to 51.4 (43.4 anticipated) from 53.4.<\/p>\n<p>The Australian dollar was lower against most of its major pairs with the exception of the NZD.<\/p>\n<p><strong><span style=\"color: #444444;\">Commodities<\/span><\/strong><\/p>\n<p>After the close of Wall Street, WTI Crude Future (JAN 19) was down $1.4 to $51.16. The contract was below its 20D MA (@ $52.45) and below its 50D MA (@ $60.79).<\/p>\n<p>Gold was down $3.8 to $1238.2. The precious metal was above its 20D MA (@ $1232) and above its 50D MA (@ $1225).<\/p>\n<p>Copper Future (MAR 19) on Comex was about flat to 275.75c\/lb. The contract was below its 20D MA (@ 277.5c) and below its 50D MA (@ 277.08c). In Europe, the London Metal Exchange reported its copper inventories increased 1250 tons to 121225 tons.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>General Market Comment US indices closed lower as the Dow plunged by appx. 500 pts to finish the week on Friday. Shares in the Pharmaceuticals, Biotechnology &amp; Life Sciences (-3.93%), Food &amp; Staples Retailing (-3.79%) and Technology Hardware &amp; Equipment (-2.93%) sectors were under pressure. On the economic data front, retail sales improved by 0.2% &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/inscx.com\/trading\/2018\/12\/17\/general-market-comment-14-12-18\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;General Market Comment 14.12.18&#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-1386","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 14.12.18 - 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\/12\/17\/general-market-comment-14-12-18\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"General Market Comment 14.12.18 - INSCX Live Trading Platform\" \/>\n<meta property=\"og:description\" content=\"General Market Comment US indices closed lower as the Dow plunged by appx. 500 pts to finish the week on Friday. Shares in the Pharmaceuticals, Biotechnology &amp; Life Sciences (-3.93%), Food &amp; Staples Retailing (-3.79%) and Technology Hardware &amp; Equipment (-2.93%) sectors were under pressure. 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Shares in the Pharmaceuticals, Biotechnology &amp; Life Sciences (-3.93%), Food &amp; Staples Retailing (-3.79%) and Technology Hardware &amp; Equipment (-2.93%) sectors were under pressure. 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