 Hi, good morning. I'm welcome to these products in focus. So the US market struggling to break above 18,112 Just as a commodity market route continues But most other global equity markets are looking relatively stable with eyes still turning to the US dollar and potential rate hikes in September with the latest Fed member coming out saying he reckons about 50% chance of an increase in September and that US dollar Strength increase interest rate discussion point is what is one of the many factors impacting the commodity markets But China and the worry about Chinese slowdown As affecting others commodities, but also some of the APAC regions as well specifically Australia There's a lot of people there are worried about the the impact of lower commodity prices and demand from China impacting that region Especially with so much debt that they have over and ours during the good years They didn't keep so much of that cash back that they that they've made point out most other regions were getting hit hard by the credit crunch in Australia very high because of China in the world too much of that way So it's one thing that some traders looking at a lot of the APAC regions and what's gonna happen if the the Chinese route Starts off again now. It's been stable last couple sessions. So I'd like to see how that goes So anyway having a look at the UK 100 now You can see long-laid tips of these candles are indicative of selling pressure just below that 55 pure SME But we are managing to keep our head above 67 72 It's the level we've been talking about for a number of days and that's actually the potential short-term support Now the MACD is close to cost in the zero line Which would be a buying signal from a technical perspective Whereas the slow stochastic and the RSI are not yet overbought so there's no reversal signals there So in theory if we get ahead above the 55 pure to SME that could open up a pathway towards 6907 Moving on to Japan 2 to 5 Japan underlying market was actually closed yesterday But with dollar yen now hitting well as almost 124 50 124 60 getting close to 125 actually We are we are just close to major Resistance on the dollar yen FS cross and you can see that the Japan to be fine It's just pushing up now and we're at we're near multi-year highs again 20,000 868 We had it towards end of June. We're close there just now We've actually managed to have about nine days continue of skeins Obviously, we still got today to go in Japan. I'm interested to see if you can break on higher on that effect on that on that pair So let's have a look at dollar yen. We mentioned obviously major potential resistance 124 42. We break our our neck up up there and we're looking at 126 and After that be 129. So obviously we had a massive push last time. We broke through it only to sink right back down again Let's see if dolly I can do it, but a lot of things seem to be in play right now for dollar yen U.S. Ray talk Why the Japanese yen is doing the fact that there's still an ace in the hole for Bank of Japan governor Karoda if they need to Devalid the yen further to be more competitive There's a lot of reasons why a lot of people looking at dollar yen Obviously, it's dependent a lot on the fundamentals, but it's an interesting effect to look at So moving on to us Texas crew wrote closed below $50 for the first time in a long time Yes, they haven't done that since since April this year So potential support for 940 If we break down below that then you're probably looking at the tips maybe around about 46 45 90 But we're not there yet But certainly the fundamental factor of West Texas quoted China slowing down Iranian sanctions are being lifted Could be a nuclear Saudi Arabia production levels at the highest they've ever been so there's a lot of reasons to To be wary of of long west Texas crude, but we are quite close to potential support Obviously, it can be quite volatile. So just be careful there. So looking at gold Gold actually had a terrible day as they fall in that many flash crash that we had 900,000 lots sold versus 30,000 lots at daily average in a two-minute period in the Chinese session yesterday morning That caused gold struck 4% down below. I've earned about 10 1072 Now we ended up closing a good bit away from that level and we've managed to push up a little bit higher this morning But to be honest, I think now that we've made this low here from a psychological technical perspective We might get a bit of a bounce there but I think you know the jury's out with gold and being bullish especially with potentially US rates being coming back into focus and Inflation is not very high as ever and people to identify gold as a hedge against inflation and You know people's interest rates interest rates interest rates over in the US So that what happened yesterday wasn't specifically related to interest rates It was a speculative traders pushing the price down But there's no getting away from the fact that US rates are very much the focus Of many traders eyes now now that Greece has kind of gone gone to the background So moving on to your dollar your dollars drifting down lower one spot zero seven eighty six potential support We talked about this a lot. We're back down there again Other technicals indicate that this could still have further room for maneuver with one spot zero five 24 billion X potential support should we get a convincing break and we finish up with GBP USD We've actually broken blow one spot 56 now We're almost getting death cross and moving averages that'd be a negative technical signal the MACD could cross back through the zero line That'd be negative and the other technical indicator is relatively neutral now There isn't a huge amount of economic data. We've got public finances today. Actually tomorrow. You've got the MPC minutes So that that could be interesting usually the statement that comes out there as well from the Bank of England talking about their heavy voted on rates and everything else and then UK rates are Kind of coming in coming in through an element right now as well later on tomorrow We've got existing home sales and the petroleum data Updates and then finishing up on Thursday. You've got retail sales in the UK again Good for cable and then US employment claims finishing up with your own consumer confidence index for CCI And as ever keep you on the char forum make insights part of the leg going forward and join me again tomorrow to find out what happened next