{"id":811,"date":"2018-08-13T09:56:12","date_gmt":"2018-08-13T08:56:12","guid":{"rendered":"https:\/\/inscx.com\/trading\/?p=811"},"modified":"2018-08-13T09:56:12","modified_gmt":"2018-08-13T08:56:12","slug":"general-market-comment-2","status":"publish","type":"post","link":"https:\/\/inscx.com\/trading\/2018\/08\/13\/general-market-comment-2\/","title":{"rendered":"General Market Comment"},"content":{"rendered":"

General Market Comment<\/strong><\/p>\n

US indices closed lower on Friday after President Trump authorized the doubling of metals tariffs on Turkey. Shares in the Semiconductors & Semiconductor Equipment (-2.23%), Automobiles & Components (-2.11%) and Materials (-1.43%) sectors were under pressure. On the economic data front, CPI MoM increased by 0.2% in July, meeting the estimate, from +0.1% in June. Lastly, monthly budget statement deficit increased to $76.9B (estimated $75.4B) in July vs. $42.9B in June. The S&P 500 (2,833.28) remains above both its 20d moving average (2,825.64 – positive slope) and 50d moving average (2,784.85 – positive slope).<\/p>\n

European markets are expected to start on a negative note.<\/p>\n

Foreign Exchange<\/span><\/strong><\/p>\n

The US dollar was bullish against its major pairs on Friday with exception of the JPY. On the economic data front, CPI MoM increased by 0.2% in July, meeting the estimate, from +0.1% in June. Lastly, monthly budget statement deficit increased to $76.9B (estimated $75.4B) in July vs. $42.9B in June.<\/p>\n

The Euro was bearish against all of its major pairs. UK GDP growth was 0.4% in 2Q in the first estimation, as expected, vs +0.2% in the previous quarter. Separately, industrial production was up by 0.4% in June (+0.3% anticipated) after being down 0.2% in May (revised from -0.4%). Finally, the trade balance deficit narrowed to \u00a31.86B in June from \u00a33.14B in May. French industrial production increased 0.6% in June (+0.5% expected) after a 0.2% slide the month before.<\/p>\n

The Australian dollar was bearish against its major pairs with exception of the EUR.<\/p>\n

Commodities<\/span><\/strong><\/p>\n

After the close of Wall Street, WTI Crude Future (SEP 18) was up $0.9 to $67.73. The contract was below its 20D MA (@ $68.31) and below its 50D MA (@ $68.06).<\/p>\n

Gold was about flat to $1211.5. The precious metal was below its 20D MA (@ $1221) and below its 50D MA (@ $1250).<\/p>\n

Copper Future (SEP 18) on Comex was down 2.1c to 274.4c\/lb. The contract was below its 20D MA (@ 276.67c) and below its 50D MA (@ 293.54c). In Europe, the London Metal Exchange reported its copper inventories increased 900 tons to 253525 tons.<\/p>\n","protected":false},"excerpt":{"rendered":"

General Market Comment US indices closed lower on Friday after President Trump authorized the doubling of metals tariffs on Turkey. Shares in the Semiconductors & Semiconductor Equipment (-2.23%), Automobiles & Components (-2.11%) and Materials (-1.43%) sectors were under pressure. On the economic data front, CPI MoM increased by 0.2% in July, meeting the estimate, from … <\/p>\n

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