{"id":981,"date":"2018-09-27T09:15:56","date_gmt":"2018-09-27T08:15:56","guid":{"rendered":"https:\/\/inscx.com\/trading\/?p=981"},"modified":"2018-09-27T09:15:56","modified_gmt":"2018-09-27T08:15:56","slug":"general-market-comment-17","status":"publish","type":"post","link":"https:\/\/inscx.com\/trading\/2018\/09\/27\/general-market-comment-17\/","title":{"rendered":"General Market Comment"},"content":{"rendered":"<p><strong>General Market Comment<\/strong><\/p>\n<p>US indices closed lower <span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1383077125\"><span class=\"aQJ\">on Wednesday<\/span><\/span> as the Federal Reserve raised its federal funds rate for the third time this year to the range of 2% &#8211; 2.25%, as expected. Shares in the Banks (-1.52%), Real Estate (-1.15%) and Diversified Financials (-1.11%) sectors were under pressure. On the economic data front, MBA mortgage applications advanced by 2.9% in week ended September 21st from an improvement of 1.6% a week earlier. New home sales rose to 629k units in August (estimated 630k) compared to 608k in July. Finally, the Federal Reserve decided to raise its federal funds rate for the third time this year to the range of 2-2.25%, as expected. The Fed shared their view that the economy is growing at a &#8220;strong&#8221; rate and may trigger &#8220;further gradual&#8221; rate increases. The S&amp;P 500 (2,905.97) remains above its 20d moving average (2,900.86 &#8211; flat slope) and 50d moving average (2,864.02 &#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 most of its major pairs <span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1383077126\"><span class=\"aQJ\">on Wednesday<\/span><\/span> with the exception of the CAD. On the economic data front, MBA mortgage applications advanced by 2.9% in week ended September 21st from an improvement of 1.6% a week earlier. New home sales rose to 629k units in August (estimated 630k) compared to 608k in July. Finally, the Federal Reserve decided to raise its federal funds rate for the third time this year to the range of 2-2.25%, as expected. The Fed shared their view that the economy is growing at a &#8220;strong&#8221; rate and may trigger &#8220;further gradual&#8221; rate increases.<\/p>\n<p>The Euro was bearish against most of its major pairs with the exception of the CAD. French consumer confidence fell to 94 in September from 96 a month earlier (revised from 97). It was anticipated to be 97.<\/p>\n<p>The Australian dollar was higher against most of its major pairs with the exception of the JPY.<\/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_1383077127\"><span class=\"aQJ\">NOV 18<\/span><\/span>) was about flat to $72.06. The contract was above its 20D MA (@ $69.59) and above its 50D MA (@ $67.85). The US Department of Energy reported that, for the week ended 21 September, crude oil inventories increased 1852k barrels compared to the previous week.<\/p>\n<p>Gold was down $6.5 to $1194.8. The precious metal was below its 20D MA (@ $1199) and below its 50D MA (@ $1204).<\/p>\n<p>Copper Future (<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1383077128\"><span class=\"aQJ\">DEC 18<\/span><\/span>) on Comex was about flat to 281.8c\/lb. The contract was above its 20D MA (@ 270.18c) and above its 50D MA (@ 273.1c). In Europe, the London Metal Exchange reported its copper inventories decreased 2025 tons to 210900 tons.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>General Market Comment US indices closed lower on Wednesday as the Federal Reserve raised its federal funds rate for the third time this year to the range of 2% &#8211; 2.25%, as expected. Shares in the Banks (-1.52%), Real Estate (-1.15%) and Diversified Financials (-1.11%) sectors were under pressure. On the economic data front, MBA &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/inscx.com\/trading\/2018\/09\/27\/general-market-comment-17\/\" 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-981","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\/27\/general-market-comment-17\/\" \/>\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 lower on Wednesday as the Federal Reserve raised its federal funds rate for the third time this year to the range of 2% &#8211; 2.25%, as expected. 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