{"id":509,"date":"2018-07-05T10:12:25","date_gmt":"2018-07-05T09:12:25","guid":{"rendered":"https:\/\/inscx.com\/trading\/?p=509"},"modified":"2018-07-10T17:04:29","modified_gmt":"2018-07-10T16:04:29","slug":"general-market-comment-04-07-18","status":"publish","type":"post","link":"https:\/\/inscx.com\/trading\/2018\/07\/05\/general-market-comment-04-07-18\/","title":{"rendered":"General Market Comment: 04.07.18"},"content":{"rendered":"<p><strong>General Market Comment<\/strong><\/p>\n<p>US markets were closed <span class=\"aBn\" tabindex=\"0\" data-term=\"goog_847365494\"><span class=\"aQJ\">on Wednesday<\/span><\/span> to observe Independence Day. On the economic data front, MBA Mortgage applications fell 0.5% last week for a second consecutive week. All eyes are <span class=\"aBn\" tabindex=\"0\" data-term=\"goog_847365495\"><span class=\"aQJ\">on Thursday&#8217;s<\/span><\/span> jobs report. The top performing sector of the week so far is Telecommunication Services (+3.11%) while the worst is Automobiles &amp; Components (-4.27%). The S&amp;P 500 (2,713.22) is still below both its 20d moving average (2,752.55 &#8211; negative slope) and 50d moving average (2,7189.46 &#8211; positive slope).\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 under pressure against all of its pairs <span class=\"aBn\" tabindex=\"0\" data-term=\"goog_847365496\"><span class=\"aQJ\">on Wednesday<\/span><\/span> except for the CAD. On the economic data front, MBA Mortgage applications fell 0.5% last week for a second consecutive week. All eyes are on the June jobs report <span class=\"aBn\" tabindex=\"0\" data-term=\"goog_847365497\"><span class=\"aQJ\">tomorrow<\/span><\/span>.<\/p>\n<p>The Euro was bearish against all of its major pairs with the exception of the CAD. Eurozone PMI services index was 55.2 in final estimation in June vs 55 in first reading and 53.8 the month before. UK PMI services index rose to 55.1 in June vs 54 in May. Economists anticipated 54.<\/p>\n<p>The Australian dollar was under pressure against all of 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_847365498\"><span class=\"aQJ\">AUG 18<\/span><\/span>) was about flat to $74.33. The contract was above its 20D MA (@ $68.69) and above its 50D MA (@ $68.79).<\/p>\n<p>Gold was about flat to $1254.4. The precious metal was below its 20D MA (@ $1273) and below its 50D MA (@ $1291).<\/p>\n<p>Copper Future (<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_847365499\"><span class=\"aQJ\">SEP 18<\/span><\/span>) on Comex was down 5.6c to 286.1c\/lb. The contract was below its 20D MA (@ 309.44c) and below its 50D MA (@ 310.75c). The 14d RSI below 30 (23.76) indicates Copper Future (<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_847365500\"><span class=\"aQJ\">SEP 18<\/span><\/span>) contract was oversold. In Europe, the London Metal Exchange reported its copper inventories decreased 4300 tons to 282225 tons.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>General Market Comment US markets were closed on Wednesday to observe Independence Day. On the economic data front, MBA Mortgage applications fell 0.5% last week for a second consecutive week. All eyes are on Thursday&#8217;s jobs report. The top performing sector of the week so far is Telecommunication Services (+3.11%) while the worst is Automobiles &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/inscx.com\/trading\/2018\/07\/05\/general-market-comment-04-07-18\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;General Market Comment: 04.07.18&#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-509","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: 04.07.18 - 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\/05\/general-market-comment-04-07-18\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"General Market Comment: 04.07.18 - INSCX Live Trading Platform\" \/>\n<meta property=\"og:description\" content=\"General Market Comment US markets were closed on Wednesday to observe Independence Day. On the economic data front, MBA Mortgage applications fell 0.5% last week for a second consecutive week. All eyes are on Thursday&#8217;s jobs report. 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