{"id":392,"date":"2018-07-02T11:11:54","date_gmt":"2018-07-02T10:11:54","guid":{"rendered":"https:\/\/inscx.com\/trading\/?p=392"},"modified":"2018-07-10T17:08:26","modified_gmt":"2018-07-10T16:08:26","slug":"general-market-comment-29-06-18","status":"publish","type":"post","link":"https:\/\/inscx.com\/trading\/2018\/07\/02\/general-market-comment-29-06-18\/","title":{"rendered":"General Market Comment: 29.06.18"},"content":{"rendered":"<p><strong>General Market Comment<\/strong><\/p>\n<p>US indices closed higher\u00a0<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1314615274\"><span class=\"aQJ\">on Friday<\/span><\/span>\u00a0lifted by shares in the Consumer Durables &amp; Apparel (+3.75%), Energy (+0.65%) and Pharmaceuticals, Biotechnology &amp; Life Sciences (+0.6%) sectors. On the economic data front, personal income increased by 0.4% in May, meeting the estimate, from +0.2% in the prior month while personal spending increased by 0.2% in May, below the estimate of +0.4%, from +0.5% previously. In addition, the Chicago business barometer index increased to 64.1 in June (expected 60) from 62.7 in the previous month. Finally, the University of Michigan consumer sentiment index increased to 98.2 in June (anticipated 99) from 98 in May. The S&amp;P 500 (2,718.37) is still below its 20d moving average (2,755.34 &#8211; flat) but breaks above 50d moving average (2,717.47 &#8211; flat).\u00a0European markets are expected to open on a negative note.<\/p>\n<p><strong><span style=\"color: #444444;\">Foreign Exchange<\/span><\/strong><\/p>\n<p>The US dollar was bearish against its major pairs\u00a0<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1314615275\"><span class=\"aQJ\">on Friday<\/span><\/span>\u00a0with exception of the JPY. On the economic data front, personal income increased by 0.4% in May, meeting the estimate, from +0.2% in the prior month while personal spending increased by 0.2% in May, below the estimate of +0.4%, from +0.5% previously. In addition, the Chicago business barometer index increased to 64.1 in June (expected 60) from 62.7 in the previous month. Finally, the University of Michigan consumer sentiment index increased to 98.2 in June (anticipated 99) from 98 in May.<\/p>\n<p>The Euro was bullish against all of its major pairs. Eurozone CPI came in at 2.0% in June, matching expectations. Meanwhile, the core figures eased to 1.0% also coming in line with the expectations and 1.1% previous. Germany June unemployment change -15k vs -8k expected. The unemployment rate came in at 5.2% in June. Finally, the UK&#8217;s first-quarter GDP growth was revised up to a 0.2% rate vs 0.1%.<\/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_1314615276\"><span class=\"aQJ\">AUG 18<\/span><\/span>) was up $0.9 to $74.33. The contract was above its 20D MA (@ $67.32) and above its 50D MA (@ $68.4). The 14d RSI above 70 (71.72) indicates WTI Crude Future (<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1314615277\"><span class=\"aQJ\">AUG 18<\/span><\/span>) was overbought.<\/p>\n<p>Gold was up $4.9 to $1253.2. The precious metal was below its 20D MA (@ $1280) and below its 50D MA (@ $1296). The 14d RSI below 30 (27.15) indicates gold was oversold.<\/p>\n<p>Copper Future (<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1314615278\"><span class=\"aQJ\">SEP 18<\/span><\/span>) on Comex was about flat to 296.6c\/lb. The contract was below its 20D MA (@ 314.1c) and below its 50D MA (@ 312.33c). The 14d RSI below 30 (29.71) indicates Copper Future (<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1314615279\"><span class=\"aQJ\">SEP 18<\/span><\/span>) contract was oversold. In Europe, the London Metal Exchange reported its copper inventories decreased 3725 tons to 294525 tons.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>General Market Comment US indices closed higher\u00a0on Friday\u00a0lifted by shares in the Consumer Durables &amp; Apparel (+3.75%), Energy (+0.65%) and Pharmaceuticals, Biotechnology &amp; Life Sciences (+0.6%) sectors. On the economic data front, personal income increased by 0.4% in May, meeting the estimate, from +0.2% in the prior month while personal spending increased by 0.2% in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/inscx.com\/trading\/2018\/07\/02\/general-market-comment-29-06-18\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;General Market Comment: 29.06.18&#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-392","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: 29.06.18 - 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\/07\/02\/general-market-comment-29-06-18\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"General Market Comment: 29.06.18 - INSCX Live Trading Platform\" \/>\n<meta property=\"og:description\" content=\"General Market Comment US indices closed higher\u00a0on Friday\u00a0lifted by shares in the Consumer Durables &amp; Apparel (+3.75%), Energy (+0.65%) and Pharmaceuticals, Biotechnology &amp; Life Sciences (+0.6%) sectors. 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