 Hi, welcome to today's products in focus So having a look at the US 30 basically FOMC minutes came out last night And it was a little bit more dovish than what many people were thinking Saying that some of the macro data was was pointing in the right direction But that the global economy and what was happening elsewhere in the world with commodity prices in China was having an impact on the Fed's feelings September rate hike now looks more unlikely not impossible, but certainly more unlikely But that's actually caused a quite a negative spend on the US 30 which kind of interesting because with a later rate hike Some people go well. That's a longer cheap money But the the market has taken it to be a little bit negative in regards to the sentiment of the global economy and focus a lot less on The impact of a rate rise in the US in regards to people buying a buck dollar and US equities and everything else because of higher yields so US 30 now trading below 17361 with 17,000 and 37 be the next potential support We are firmly away from both moving averages really bearish candle from yesterday finishing quite close to the session lows Bearish crossover on the MACD and the other technicals are still relatively neutral looking elsewhere and most of the global markets are comfortably down this morning by about three quarters to full percentage point lower Looking at the UK 100 firmly smashing through 64 15 real Negative candle again breaking out from that symmetrical triangle formation Sentiment has really turned quite bearish next potential support on the UK 100. We'd probably be down here That I'm just going to clear this up a little bit get rid of a lot of these other levels that are no longer Really in play where we are right now We probably Will keep that one there for now That gives you a bit of a flavor of where we're going so as 62 69 as a potential support level other technicals are Looking quite negative RSI has just gone into oversold territory, but there's not yet a signal to reverse So moving on to Japan to do five so dollar yen reverse course last night in a 123 80 Slowly tip back up the dollar basically lost a lot momentum straight after the FOMC minutes And that reversal people buying Japanese yen selling the dollar And that's caused a reversal in Japan 55 as well But pretty much bang on a potential support 20 87 20,000 87 But more importantly we had a bounce of this level so we closed bang on the end of the session laws That's usually pretty negative to be honest And today we managed to get a modest bounce, but since then we've been pushed right back down again And actually we are trading below 20,000 and 87 right now so Japan to do five looking pretty ugly if I'm honest and they matter these just crosses your line, which would be another negative factor So I'm gonna look at that dollar yen position bearish engulfing pattern we're in between two moving averages right now, so that's okay We've had a little bit of a bounce which is decent It's looking at your dollar euros from the control looking at cable Nice sterling had a really good run yesterday because we had some decent data Good inflation data very unexpected data come out of the UK a few days ago And that's that's popped up, but against the dollar. Yeah, we had a big reversal after the FOMC last night So yeah, and kind of jumped dollars hold off now We're seeing a little bit more but of buying interest on the US dollar first thing this morning But it's not exactly a massive rally. It's up, you know 0.15% so that gives you a bit of an idea, but we're below 124 42 Which is potential resistance and as we speak it's just taken down so See that path that layer on today Crude got hammered down 4% yesterday inventory data way higher than expected Again global demand fears FOMC stole that nicely last night $35.30 cents is the longer term potential support It's interesting after yesterday real negative candle closing bang on the end of the range It's just flat line this morning on the intraday charts not really doing a huge amount But this this chart does look pretty ugly if I'm completely honest and the fundamentals don't support a strong price hike Anytime soon So moving on to gold goals obviously flavor of the month now had a great day for the FOMC land lower interest rates for longer We've broken above 1137 we seem to be capped by 55 period SMA might just be transitory If we get a close above 1137 it might build a nice base there to be able to re-challenge 1186 But a lot of traders buying gold right now Because it's got the safe haven aspect, but it's also Got the inverse relationship to Rising US interest rates. So this is perhaps the best signal so far as to where traders really feel Interest rates in the US are going as in they're saying well might be December now It could be even later than that based by what we're seeing on gold right now So finishing up with your dollar and GBP USD So billage and Gulf and pattern on your dollar following FOMC trading above both moving averages trading above once bought 11 Falled through a little bit further today, but these long with the candles that we've had for all of July and most of August Are probably indicative that around about 112 there could be some more selling interest as well Probably an oscillation around 111 is not going to be that surprising I'm finishing up with GBP USD a really grinding higher Following better than expected data from the UK, but look at these long-legged tips right here It's just each time it goes higher. It just get pushed right back down again So one spot for 743 is the potential support level resistance already to be aware of It's probably going to grind higher ground higher ground higher till we get there Well, basically unless we start getting some more decent US macro data blah blah blah one minute everything's off all Gravy for rate hike and the next minute is definitely not so last night's FOMC Hasn't killed a rate hike, but it has certainly put it from in the back foot And when you look at most global equity markets right now it things are on the back foot very firmly So I come a day wise we do have the UK retail sales today 9 30 UK time US employment claims Philly Fed business data and existing home sales So a fair amount of data between half one and three o'clock and then Friday. We've got Chinese PMI We've got German PMI you've got Eurozone PMI and public finance data from the UK Finishing up at 3 p.m UK time with CCI from the Eurozone So as ever guys keep your eyes on the chart for them Make insights part of your layout going forward and join me again tomorrow to find out why the next