{"id":607,"date":"2018-07-12T08:39:05","date_gmt":"2018-07-12T07:39:05","guid":{"rendered":"https:\/\/inscx.com\/trading\/?p=607"},"modified":"2018-07-12T08:40:41","modified_gmt":"2018-07-12T07:40:41","slug":"607","status":"publish","type":"post","link":"https:\/\/inscx.com\/trading\/2018\/07\/12\/607\/","title":{"rendered":"General Market Comment: 11.07.18"},"content":{"rendered":"<p><strong>General Market Comment<\/strong><\/p>\n<p>US indices closed lower on Wednesday pressured by shares in the Semiconductors &amp; Semiconductor Equipment (-2.31%), Automobiles &amp; Components (-2.21%), Energy (-2.15%) sectors. Crude dropped the most in 2-years. On the economic data front, MBA mortgage applications increased by 2.5% in the week ending July 6 from -0.5% in the prior week. In addition the PPI final demand MoM increased by 0.3% in June (estimated +0.2%) from +0.5% in May. Finally, wholesale inventories MoM increased by 0.6% in the final estimate in June (estimated +0.5%) from +0.5% in May. The S&amp;P 500 (2,774.02) remains above its 20d moving average (2,750.45 &#8211; flat slope) and 50d moving average (2,731.25 &#8211; positive slope).<\/p>\n<p>European markets are expected to start on a positive note.<\/p>\n<p><strong>Foreign Exchange<\/strong><\/p>\n<p>The US dollar was bullish against all of its pairs on Wednesday. On the economic data front, MBA mortgage applications increased by 2.5% in the week ending July 6 from -0.5% in the prior week. In addition the PPI final demand MoM increased by 0.3% in June (estimated +0.2%) from +0.5% in May. Finally, wholesale inventories MoM increased by 0.6% in the final estimate in June (estimated +0.5%) from +0.5% in May.<\/p>\n<p>The Euro was also mixed against its major pairs. No major economic stat was released in Europe yesterday.<\/p>\n<p>The Australian dollar was bearish against all of its major pairs.<\/p>\n<p><strong>Commodities<\/strong><\/p>\n<p>After the close of Wall Street, WTI Crude Future (AUG 18) was down $3.5 to $70.65. The contract was above its 20D MA (@ $70.04) and above its 50D MA (@ $69.18). The US Department of Energy reported that, for the week ended 6 July, crude oil inventories fell 12633k barrels compared to the previous week.<\/p>\n<p>Gold was down $13.9 to $1241.7. The precious metal was below its 20D MA (@ $1262) and below its 50D MA (@ $1285).<\/p>\n<p>Copper Future (SEP 18) on Comex was down 9.4c to 274.5c\/lb. The contract was below its 20D MA (@ 299.75c) and below its 50D MA (@ 308.16c). The 14d RSI below 30 (19.28) indicates Copper Future (SEP 18) contract was oversold. In Europe, the London Metal Exchange reported its copper inventories decreased 5150 tons to 265475 tons.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>General Market Comment US indices closed lower on Wednesday pressured by shares in the Semiconductors &amp; Semiconductor Equipment (-2.31%), Automobiles &amp; Components (-2.21%), Energy (-2.15%) sectors. Crude dropped the most in 2-years. On the economic data front, MBA mortgage applications increased by 2.5% in the week ending July 6 from -0.5% in the prior week. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/inscx.com\/trading\/2018\/07\/12\/607\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;General Market Comment: 11.07.18&#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-607","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: 11.07.18 - 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\/12\/607\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"General Market Comment: 11.07.18 - INSCX Live Trading Platform\" \/>\n<meta property=\"og:description\" content=\"General Market Comment US indices closed lower on Wednesday pressured by shares in the Semiconductors &amp; Semiconductor Equipment (-2.31%), Automobiles &amp; Components (-2.21%), Energy (-2.15%) sectors. 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