{"id":668,"date":"2018-07-19T09:17:44","date_gmt":"2018-07-19T08:17:44","guid":{"rendered":"https:\/\/inscx.com\/trading\/?p=668"},"modified":"2018-07-19T09:17:44","modified_gmt":"2018-07-19T08:17:44","slug":"general-market-comment-18-07-18","status":"publish","type":"post","link":"https:\/\/inscx.com\/trading\/2018\/07\/19\/general-market-comment-18-07-18\/","title":{"rendered":"General Market Comment: 18.07.18"},"content":{"rendered":"<p><strong>General Market Comment<\/strong><\/p>\n<p>US indices closed mixed <span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1316018591\"><span class=\"aQJ\">on Wednesday<\/span><\/span>. Shares in the Household &amp; Personal Products (-1.01%), Food, Beverage &amp; Tobacco (-0.7%) and Consumer Durables &amp; Apparel (-0.66%) sectors closed in the red zone while shares in the Transportation (+2.81%), Diversified Financials (+2.71%) and Insurance (+1.14%) sectors gained momentum. On the economic data front, MBA mortgage applications decreased by 2.5% in the week ending July 13 from +2.5% previously. In addition, housing starts decreased to 1.17M in June (estimated 1.32M) from a revised 1.34M in May. Finally, the Fed released its Beige book stating a modest expansion in the economic activity with employment continuing to rise at a moderate pace. There were shortages of qualified workers along with a modest to moderate increase in wages. Tariffs also contributed to the increase in metals and lumber. The S&amp;P 500 (2,815.62) remains above its 20d moving average (2,757.90 &#8211; positive slope) and 50d moving average (2,746.59 &#8211; positive slope).<\/p>\n<p>European 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 bearish against its major pairs <span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1316018592\"><span class=\"aQJ\">on Wednesday<\/span><\/span> with exception of the EUR and the GBP. On the economic data front, MBA mortgage applications decreased by 2.5% in the week ending July 13 from +2.5% previously. In addition, housing starts decreased to 1.17M in June (estimated 1.32M) from a revised 1.34M in May. Finally, the Fed released its Beige book stating a modest expansion in the economic activity with employment continuing to rise at a moderate pace. There were shortages of qualified workers along with a modest to moderate increase in wages. Tariffs also contributed to the increase in metals and lumber.<\/p>\n<p>The Euro was bearish against its major pairs with exception of the GBP. Euro Zone CPI was up by 0.1% in June in the final estimation, from +0.5% in May. In the UK. Consumer prices were stable in June (expected 0.2%) from +0.4% in May.<\/p>\n<p>The Australian dollar was bullish 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_1316018593\"><span class=\"aQJ\">AUG 18<\/span><\/span>) was up $0.8 to $68.9. The contract was below its 20D MA (@ $70.92) and below its 50D MA (@ $69.28). The US Department of Energy reported that, for the week ended 13 July, crude oil inventories increased 5836k barrels compared to the previous week.<\/p>\n<p>Gold was about flat to $1227.7. The precious metal was below its 20D MA (@ $1251) and below its 50D MA (@ $1278). The 14d RSI below 30 (27.3) indicates gold was oversold.<\/p>\n<p>Copper Future (<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1316018594\"><span class=\"aQJ\">SEP 18<\/span><\/span>) on Comex was up 1.6c to 276.3c\/lb. The contract was below its 20D MA (@ 289.48c) and below its 50D MA (@ 304.9c). The 14d RSI below 30 (26.75) indicates Copper Future (<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1316018595\"><span class=\"aQJ\">SEP 18<\/span><\/span>) contract was oversold. In Europe, the London Metal Exchange reported its copper inventories decreased 2375 tons to 257350 tons.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>General Market Comment US indices closed mixed on Wednesday. Shares in the Household &amp; Personal Products (-1.01%), Food, Beverage &amp; Tobacco (-0.7%) and Consumer Durables &amp; Apparel (-0.66%) sectors closed in the red zone while shares in the Transportation (+2.81%), Diversified Financials (+2.71%) and Insurance (+1.14%) sectors gained momentum. On the economic data front, MBA &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/inscx.com\/trading\/2018\/07\/19\/general-market-comment-18-07-18\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;General Market Comment: 18.07.18&#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-668","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: 18.07.18 - 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\/19\/general-market-comment-18-07-18\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"General Market Comment: 18.07.18 - INSCX Live Trading Platform\" \/>\n<meta property=\"og:description\" content=\"General Market Comment US indices closed mixed on Wednesday. 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