 Hi, good morning and welcome to the day's products and focus and overnight We had some news coming out of Singapore in regards to their interest rates Which is as you can have shocked the market ever so slightly they've managed to keep their rates near zero and That's to try and stimulate the local economy and that spilled over onto many other Asian markets that's then had an awkward effect on Onto Europe and onto the US so effectively that's caused some decent moves in the Singapore dollar and We've seen the Japanese stock market kind of rise up about 3% as well. So the yen has as weakened Quite substantially as well. We have a look at dollar yen in a second from a technical analysis standpoint But things are looking a little bit different today than they were at the very very start of the week and the end of last week there So American markets pushing on that little bit higher as well. We're getting quite close to potential resistance so a lot of momentum traders coming back into the fold and We've basically seen a big uptick and some of the trading volumes that we've seen things have been kind of subdued up until now So the markets are kind of coming back to life ever so slightly We've also heard some more information regarding Russia and Saudi Arabia and an oil deal Basically, they're still Having lots and lots of debates about, you know, we're not going to cut production But maybe maybe you could talk about some sort of Production freeze, but there's not going to be any details anytime soon So you've seen kind of like crude oil come off that little bit there as well So the main fundamentals are around the the impact of that weaker Singapore dollar and intervention by by the MES and That's Compounded with some decent data coming out of China and the dollar has been getting a little bit of momentum as well as the good news Can fill us through to the US and when you have a look at the US 30 right now They get an idea of why that interest rate hike might be coming back on the table So without further ado, let's go ahead and look at the US 30 from a technical perspective So this gives you a bit of a flavor of where we are really strong day Yesterday obviously decent day the day before getting quite close to 17 9 79 you're getting quite close We're not a million miles away from that From now that kind of high that we had there in there in May The US 30s had a fantastic run from this double bottom all the way right up to the top 83% of CMC marks clients are currently short and probably as this begin begins to kind of break up those shorts Well, we'll eventually have to have to give up and go back to go back to longs But we are coming out quite close to potential resistance levels So depending on your view if you think that the market is overextended and it's going to sell off Perhaps this level here might be kind of interesting for you as well If it breaks up through there and gets a close you could be looking at a technical breakout to then re-challenge 18367 Moving on to the UK 100 firmly breaking out of another potential resistance at 63 23 now looking at 64 53 is the next potential Resistance 74% of CMC Mark's clients are currently short the other technicals are relatively neutral Though we did have a bullish crossover on the MACD a few sessions ago Jumping quickly on to the Japan 2 to 5 and obviously you can get that an idea of The strength that rally so we've had three really strong candles Stopping just briefly at 16 8 96 as a potential resistance for above the moving averages You got a bullish crossover in the MACD Japanese market looking at that a little bit more Bullish this morning potentially bullish this morning. So looking at dollar yen It's not like there's a really aggressive move here But it is moving in the right direction forever the Japanese stock market So the dollar has been gaining a little bit of momentum and the yen has been weakening ever so slightly It's not really that exciting until it gets back up to 110 moving on to West Texas crude and You can just see the kind of the volatility that we've seen it Just smashed up through these levels and then reverse back down if I just quickly again jump on to my 5-minute interval You can pretty much just see it said it broke through that potential support as then push back up Could be a potential retracement and then slowly drifted back down But the size of the moves are so small that doesn't normally that'd be a fantastic Potential trade setup, but the fact that the market isn't really kind of moving with that much momentum It's kind of interesting though 76% of CMT box clients are currently short moving on to gold Yeah, if we get a break below this potential neckline things get a little bit more interesting Could still be a head and shoulders formation. Obviously higher US interest rates isn't good for gold We're below the 21 period SMA, but we're coming up close to that 55 period SMA. The other technicals are relatively neutral Gold's not really that exciting right now your dollar Volatile very volatile. So the euro kind of completely gave up its gains against the US dollar But absolutely smashed yesterday as the dollar maybe just a little bit of a it's a break out basically With some decent momentum. So once we broke through these potential Kind of tips of these candles and just accelerate to the downside as a dollar kind of roll back into life breaking back to that 21 period SMA and we're a good bit away from the 55 So it's kind of just hanging there right now looking particularly vulnerable and then if you have a look at GBP's USD Sterling's happened a bit of a tough time right now one spot for a 80 is gonna be the next potential support still potentially trading within a Descending triangle formation with a breakout of this if it happens would potentially down to one spot there eight there is six 57% of CMC markets clients currently short. So to finish things up. Let's have a quick look at the market calendar and We are looking today at your zone CPI Industry announcement a couple of the statement from the Bank of England Then you got the consumer price index and employment data and then you finish that with Friday Some decent Chinese data and that will again be interesting think about overnight gap risk, but things are looking a little bit better And in the market. So if these figures continue to impress you might begin to see some green shoots of an economic recovery in China But as we all will say, you know, can you trust the numbers? You know these not the turnaround is coming at a very opportune time to be posting some decent numbers And then you have industrial production and the University of Michigan sentiment index to round things off And I don't think you have any data releases at the weekend and then nothing much on Monday there either So guys, that's it for me. Very good luck with the trading and join me again Next week to find out what happened next. I'm in Stuttgart for the next few days. So there won't be another video Thank you very much and goodbye