{"id":357,"date":"2018-06-28T13:25:56","date_gmt":"2018-06-28T12:25:56","guid":{"rendered":"https:\/\/inscx.com\/trading\/?p=357"},"modified":"2018-07-10T17:09:13","modified_gmt":"2018-07-10T16:09:13","slug":"general-market-comment-27-06-18","status":"publish","type":"post","link":"https:\/\/inscx.com\/trading\/2018\/06\/28\/general-market-comment-27-06-18\/","title":{"rendered":"General Market Comment: 27.06.18"},"content":{"rendered":"<p><strong>General Market Comment<\/strong><\/p>\n<p>US indices closed lower\u00a0<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1910527482\"><span class=\"aQJ\">on Wednesday<\/span><\/span>, pressured by shares in the Semiconductors &amp; Semiconductor Equipment (-2.4%), Consumer Services (-1.83%) and Software &amp; Services (-1.58%) sectors. On the economic data front, MBA mortgage applications decreased by 4.9% in the week ending June 22 from +5.1% previously. In addition, wholesale inventories increased by 0.5% in a preliminary estimate in May, above the expectation of +0.2%, from +0.1% in the previous month. Furthermore, durable goods orders decreased by 0.6% in a preliminary estimate in May (estimated -1%) from -1% in the prior month. Finally, pending home sales decreased by 0.5% in May, below the expectation of +0.5%, from -1.3% in the last month. The S&amp;P 500 (2,699.63) is below both its 20d moving average (2,755.60 &#8211; flat) and 50d moving average (2,716.81 &#8211; flat).\u00a0European markets are expected to start on a flat note.<\/p>\n<p><strong><span style=\"color: #444444;\">Foreign Exchange<\/span><\/strong><\/p>\n<p>The US dollar was bullish against all of its major pairs\u00a0<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1910527483\"><span class=\"aQJ\">on Wednesday<\/span><\/span>. On the economic data front, MBA mortgage applications decreased by 4.9% in the week ending June 22 from +5.1% previously. In addition, wholesale inventories increased by 0.5% in a preliminary estimate in May, above the expectation of +0.2%, from +0.1% in the previous month. Furthermore, durable goods orders decreased by 0.6% in a preliminary estimate in May (estimated -1%) from -1% in the prior month. Finally, pending home sales decreased by 0.5% in May, below the expectation of +0.5%, from -1.3% in the last month.<\/p>\n<p>The Euro was bearish against its major pairs with exception of the NZD and the GBP. Eurozone M3 money supply growth was 4% in May vs +3.8% the month before. According to Nationwide, UK house prices rose 0.5% in June (+0.2% expected) vs -0.2% in May.<\/p>\n<p>The Australian dollar was mixed against its major pairs.<\/p>\n<p><strong><span style=\"color: #444444;\">Commodities<\/span><\/strong><\/p>\n<p>After the close of Wall Street, WTI Crude Future (<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1910527484\"><span class=\"aQJ\">AUG 18<\/span><\/span>) was up $1.8 to $72.37. The contract was above its 20D MA (@ $66.54) and above its 50D MA (@ $68.14). The US Department of Energy reported that, for the week ended 22 June, crude oil inventories fell 9891k barrels compared to the previous week.<\/p>\n<p>Gold was down $6.2 to $1252.9. The precious metal was below its 20D MA (@ $1284) and below its 50D MA (@ $1300). The 14d RSI below 30 (24.12) indicates gold was oversold.<\/p>\n<p>Copper Future (<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1910527485\"><span class=\"aQJ\">SEP 18<\/span><\/span>) on Comex was down 1.9c to 299.65c\/lb. The contract was below its 20D MA (@ 315.38c) and below its 50D MA (@ 313.17c). In Europe, the London Metal Exchange reported its copper inventories decreased 4325 tons to 298775 tons.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>General Market Comment US indices closed lower\u00a0on Wednesday, pressured by shares in the Semiconductors &amp; Semiconductor Equipment (-2.4%), Consumer Services (-1.83%) and Software &amp; Services (-1.58%) sectors. On the economic data front, MBA mortgage applications decreased by 4.9% in the week ending June 22 from +5.1% previously. In addition, wholesale inventories increased by 0.5% in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/inscx.com\/trading\/2018\/06\/28\/general-market-comment-27-06-18\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;General Market Comment: 27.06.18&#8221;<\/span><\/a><\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-357","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: 27.06.18 - 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\/06\/28\/general-market-comment-27-06-18\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"General Market Comment: 27.06.18 - INSCX Live Trading Platform\" \/>\n<meta property=\"og:description\" content=\"General Market Comment US indices closed lower\u00a0on Wednesday, pressured by shares in the Semiconductors &amp; Semiconductor Equipment (-2.4%), Consumer Services (-1.83%) and Software &amp; Services (-1.58%) sectors. 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