{"id":946,"date":"2018-09-20T13:32:49","date_gmt":"2018-09-20T12:32:49","guid":{"rendered":"https:\/\/inscx.com\/trading\/?p=946"},"modified":"2018-09-20T13:32:49","modified_gmt":"2018-09-20T12:32:49","slug":"general-market-comment-12","status":"publish","type":"post","link":"https:\/\/inscx.com\/trading\/2018\/09\/20\/general-market-comment-12\/","title":{"rendered":"General Market Comment"},"content":{"rendered":"<p><strong>General Market Comment<\/strong><\/p>\n<p>US indices closed mixed <span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1018304500\"><span class=\"aQJ\">on Wednesday<\/span><\/span>. Shares in the Commercial &amp; Professional Services (-2.51%), Utilities (-2.12%) and Telecommunication Services (-1.35%) sectors closed on a negative note while shares in the Banks (+2.28%), Automobiles &amp; Components (+2.01%) and Diversified Financials (+1.38%) sectors gained traction. On the economic data front, current account deficit narrowed to $101.5B in 2Q (forecasted $103.4B) compared to $121.7B in 1Q. Also, housing starts rose to 1.282M units in August (expected 1.238M) from 1.174M units in July, while building permits fell to 1.229M in August (estimated 1.31M) vs. 1.303M a month earlier. The S&amp;P 500 (2,907.95) remains above its 20d moving average (2,890.18 &#8211; positive slope) and 50d moving average (2,851.62 &#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 most of its major pairs <span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1018304501\"><span class=\"aQJ\">on Wednesday<\/span><\/span> with the exception of the CHF. On the economic data front, MBA mortgage applications improved by 1.6% in week ended September 14th from a decrease of 1.8% in the prior week. In other news, current account deficit improved to $101.5B in 2Q (forecasted $103.4B) compared to $121.7B in the last quarter. Also, housing starts reached 1.282M units in August (expected 1.238M) from 1.174M units in July. Finally, building permits diminished to 1.229M in August (estimated 1.31M) vs. 1.303M a month earlier.<\/p>\n<p>The Euro was bullish against most of its major pairs with the exception of the AUD, the NZD and the CAD. In Europe, EU27 new car registrations jumped by 31.2% in August after a 10.5% rise a month earlier. UK CPI rose 0.7% in August after being flat in July. Economists anticipated a 0.5% increase.<\/p>\n<p>The Australian dollar was higher 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_1018304502\"><span class=\"aQJ\">OCT 18<\/span><\/span>) was up $1.3 to $71.14. The contract was above its 20D MA (@ $69.01) and above its 50D MA (@ $67.71). The US Department of Energy reported that, for the week ended 14 September, crude oil inventories fell 2057k barrels compared to the previous week.<\/p>\n<p>Gold was up $5.6 to $1204. The precious metal was above its 20D MA (@ $1200) and below its 50D MA (@ $1208).<\/p>\n<p>Copper Future (<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1018304503\"><span class=\"aQJ\">DEC 18<\/span><\/span>) on Comex was about flat to 272.75c\/lb. The contract was above its 20D MA (@ 267.72c) and below its 50D MA (@ 272.8c). In Europe, the London Metal Exchange reported its copper inventories increased 3450 tons to 217600 tons.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>General Market Comment US indices closed mixed on Wednesday. Shares in the Commercial &amp; Professional Services (-2.51%), Utilities (-2.12%) and Telecommunication Services (-1.35%) sectors closed on a negative note while shares in the Banks (+2.28%), Automobiles &amp; Components (+2.01%) and Diversified Financials (+1.38%) sectors gained traction. On the economic data front, current account deficit narrowed &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/inscx.com\/trading\/2018\/09\/20\/general-market-comment-12\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;General Market Comment&#8221;<\/span><\/a><\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-946","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 - 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\/09\/20\/general-market-comment-12\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"General Market Comment - INSCX Live Trading Platform\" \/>\n<meta property=\"og:description\" content=\"General Market Comment US indices closed mixed on Wednesday. Shares in the Commercial &amp; Professional Services (-2.51%), Utilities (-2.12%) and Telecommunication Services (-1.35%) sectors closed on a negative note while shares in the Banks (+2.28%), Automobiles &amp; Components (+2.01%) and Diversified Financials (+1.38%) sectors gained traction. 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Shares in the Commercial &amp; Professional Services (-2.51%), Utilities (-2.12%) and Telecommunication Services (-1.35%) sectors closed on a negative note while shares in the Banks (+2.28%), Automobiles &amp; Components (+2.01%) and Diversified Financials (+1.38%) sectors gained traction. 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