{"id":745,"date":"2018-07-30T08:14:50","date_gmt":"2018-07-30T07:14:50","guid":{"rendered":"https:\/\/inscx.com\/trading\/?p=745"},"modified":"2018-07-30T08:14:50","modified_gmt":"2018-07-30T07:14:50","slug":"general-market-comment-27-07-18","status":"publish","type":"post","link":"https:\/\/inscx.com\/trading\/2018\/07\/30\/general-market-comment-27-07-18\/","title":{"rendered":"General Market Comment: 27.07.18"},"content":{"rendered":"<p><strong>General Market Comment<\/strong><\/p>\n<p>US indices closed lower to finish the week <span class=\"aBn\" tabindex=\"0\" data-term=\"goog_572524587\"><span class=\"aQJ\">on Friday<\/span><\/span>, pressured by shares in the Semiconductors &amp; Semiconductor Equipment (-2.22%), Software &amp; Services (-2%) and Technology Hardware &amp; Equipment (-1.81%) sectors. On the economic data front, 2Q advance GDP increased to 4.1% (estimated 4.2%) from a revised 2.2% in the previous quarter. 2Q advance personal consumption also increased to 4% (expected 3%) from a revised 0.5% in the prior quarter. Finally, the University of Michigan consumer sentiment index decreased to 97.9 in final estimate in July (expected 97.1) from 98.2 in the prior month. The S&amp;P 500 (2,818.82) remains above both its 20d moving average (2,788.30 &#8211; positive slope) and 50d moving average (2,761.62 &#8211; positive slope).<\/p>\n<p>European markets are expected to start 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 all of its major pairs <span class=\"aBn\" tabindex=\"0\" data-term=\"goog_572524588\"><span class=\"aQJ\">on Friday<\/span><\/span>. On the economic data front, 2Q advance GDP increased to 4.1% (estimated 4.2%) from a revised 2.2% in the previous quarter. 2Q advance personal consumption also increased to 4% (expected 3%) from a revised 0.5% in the prior quarter. Finally, the University of Michigan consumer sentiment index decreased to 97.9 in final estimate in July (expected 97.1) from 98.2 in the prior month.<\/p>\n<p>The Euro was mixed against its major pairs. In Europe, French GDP growth was 0.2% in 2Q in first reading (+0.3% expected), the same pace than in 1Q.<\/p>\n<p>The Australian dollar was bullish against all of its major pairs.<\/p>\n<p><span style=\"color: #444444;\">Commodities<\/span><\/p>\n<p>After the close of Wall Street, WTI Crude Future (<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_572524589\"><span class=\"aQJ\">SEP 18<\/span><\/span>) was down $0.7 to $68.94. The contract was below its 20D MA (@ $69.67) and above its 50D MA (@ $68.27).<\/p>\n<p>Gold was about flat to $1223.3. The precious metal was below its 20D MA (@ $1239) and below its 50D MA (@ $1267).<\/p>\n<p>Copper Future (<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_572524590\"><span class=\"aQJ\">SEP 18<\/span><\/span>) on Comex was down 2.3c to 279.55c\/lb. The contract was below its 20D MA (@ 280.87c) and below its 50D MA (@ 300.36c). In Europe, the London Metal Exchange reported its copper inventories increased 1575 tons to 253525 tons.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>General Market Comment US indices closed lower to finish the week on Friday, pressured by shares in the Semiconductors &amp; Semiconductor Equipment (-2.22%), Software &amp; Services (-2%) and Technology Hardware &amp; Equipment (-1.81%) sectors. On the economic data front, 2Q advance GDP increased to 4.1% (estimated 4.2%) from a revised 2.2% in the previous quarter. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/inscx.com\/trading\/2018\/07\/30\/general-market-comment-27-07-18\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;General Market Comment: 27.07.18&#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-745","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: 27.07.18 - 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\/30\/general-market-comment-27-07-18\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"General Market Comment: 27.07.18 - INSCX Live Trading Platform\" \/>\n<meta property=\"og:description\" content=\"General Market Comment US indices closed lower to finish the week on Friday, pressured by shares in the Semiconductors &amp; Semiconductor Equipment (-2.22%), Software &amp; Services (-2%) and Technology Hardware &amp; Equipment (-1.81%) sectors. 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