 Hello and welcome to the CMC Markets week ahead video with myself, David Madden, Mark Manlust. And the week ahead we're looking to is Monday the 11th of December until Friday the 15th of December. And today's video has been recorded on Thursday the 7th of December and the time has just gone 12.15pm UK time. It's such actually a busy week in terms of corporate and economic updates, I will actually just be bypassing Monday and go straight to Tuesday seeing as we have so many events to discuss. So cheers and morning. We have the UK seat guide right out bearing in mind the most recent reading of UK inflation is a reading of 3%. The Bank of England have a target of 2% and if the reading exceeds 3% it takes up to 3.1%. The Governor of the Bank of England Mark Kearney wrote a letter to the British Chancellor Philip Hammond to explain why inflation has ticked up. A lot of the inflation in the UK has been going through in 2017 has actually been down to a weakness in the British Pound and important inflation rather than actually a genuine increase in demand. Looking ahead to Wednesday keeping with the UK team we have the UK unemployment rate which is currently at 4.3% and we also have the average UK earnings for the past three months and the most recent reading of that came in at 2.2%. The decline in unemployment over the last number of years in the UK has been something politicians have been happy to brag about but wage growth has been very much standing still and it's only when we actually see a decent pick up in earnings and in turn spending we actually see that the Pound actually going to manage you push on higher from here. Lunchtime on Wednesday we have the US seat guide reading the inflation reading and it's expected to come in at 2% in line with the Fed and Reserve's target. Speaking of the Fed and Reserve we have the last update from the Fed and Reserve of 2017. The Fed and Reserve is widely expected to rate to increase interest rates by 0.25% to 1.5% on the evening of Wednesday. It's going to be the statement that will follow the update is going to be closely watched seeing as traders have been widely anticipating this rate hike from the Fed and Reserve for the last couple of months now. The makeup of the Fed and Reserve is going to be changing a lot in the next number of weeks and months. We already have two new appointments to the Fed and Reserve and on top of that Janet Yellen is going to be stepping down in February and she is going to be replaced by Jerome Powell and Jay Powell. It's quite neutral when it comes to interest rates. We also have a couple more appointments to be made in the next coming weeks and months to the Fed and Reserve so the statement on Wednesday will be of high importance but also to some extent it'll be of low importance because we don't know what the makeup and the Fed and Reserve is going to be in for 2018 until a few months time. Turning our attention to Thursday we have some updates from China overnight. We have retail sales, industrial production and we also have the fixed asset investment figure. The general theme for the last few months has been that China is continuing to grow but is growing at a slow rate and that's slowed down. That's going to put some pressure on some of the mining, some of the minerals such as such as high grade copper and in turn some of the mining stocks like Rio Tinto, Beige Abilitan, Antibagasta and Anglo-America and so on. And these companies of course, some of these companies are components and constituents of the FTSE 100 so we could see a bit of a downward pressure on the FTSE on the back of that depending how the figures come in. On Thursday we have a couple of updates from Central Banks. At 12 o'clock high noon we have the update from the Bank of England. It's going to be a fairly uneventful event, I would imagine, seeing as we had an interest rate hike from the Bank of England only last month. It was a very dovish hike and it was a reset of the interest rate cost that we saw in August 2016 and the statement that followed last month could have been more dovish if Admark had already tried. So I suspect we're going to see no great surprises from the Bank of England on Thursday coming. At 12.45 we have the update from the European Central Bank. No change is expected in relation to their actual monetary policy but the press conference that follows is going to be of importance. Bearing in mind the most recent reading of Eurozone inflation ticked up to 1.5% from 1.4% but the forecast was which analysts were expecting a reading of 1.6%. So it did come in below expectations and relatively weak inflation has been something that Mario Draghi, the president of ECB, has been concerned about for a number of months now. When we take over to 2018 the size of the European Central Bank's bond buying scheme is going to reduce to 30 billion euros per month for nine months until September 2018. So any updates, should we see inflation continue to remain stubbornly low within the Eurozone, it could be a sign that we could see further our extension of easing from the ECB. On Thursday we also have the European Council summit which takes place across Thursday and Friday. So the EU summit is also going to be of importance at the back end of last week especially with Brexit negotiations are going on. In terms of corporate updates for next week on Tuesday the 12th of December we have first-time figures off from Ashted and on Wednesday the 13th of December we have first-time figures off from Dixon's Carphone. I worked one through some of the major markets which could be impacted next week. So the first one we'll have a look at is the cable, the British pound versus the US dollar. Cable since the lows of March rather has been a fairly solid upward trend versus the US dollar but notice how we have seen a decent enough sell-off given the uncertainties around the Brexit and the Irish border but by and large the overall theme is to the upside when it comes to the pound versus the US dollar. If you do see any dips lower we could see it heading back down towards this trend line and also which coincides with the fifth that we were being averaged in around the kind of 132.50 we do but we have seen buyers enter the fold in the past and we have seen pullbacks in the pound versus the US dollar back we could also see a repeat of that should we move lower on the British pound. If you do happen to push higher on the cable what potential is there to watch out for to the upside will be 135.48 at the most recent high and then beyond that up towards 136.59 which was the September high. A quick look now at the euro versus the US dollar as we have a couple of central bank updates from both organizations. So taking a look at the euros has had a very decent run throughout the summer of 2017 we sold off in a bit of the autumn and now we're purely pushing higher yet again even though we have seen a bit of a pullback recently in the euro versus the US dollar it may find support in around the fixed day moving average in around the kind of 1760 region or if we move south of that we could find support in around the kind of 117 area. Should the euro continue the upward trend that has been for largely speaking 2017 the next week level to watch out for to the upside will be the 120 region and if we go beyond 120 we could be looking towards the September high of 120.92. Taking a look now at the FTSE 100 as I mentioned we've become an update from the UK next week any movements in the British pound could have a big impact on the FTSE 100 but if you've noticed that the FTSE has been in fairly obvious decline since of the last five or six weeks since early November you had a fairly obvious lower low and a lower high followed by another lower low so we're currently below the 30 moving average on the FTSE 100 which comes with the play at 7400 so while we remain south of that metric the outlook for the FTSE 100 could remain negative so should we move lower yet again on the FTSE 100 we could be looking ahead back down towards the December low of 7278 and if you go below that keep your eye out on the September low of 7195 and if you go south of that keep an eye out for the April low of 788 push is higher on the FTSE 100 may counter-resistance at 7472 at late November high and if you go north of that we could be looking to target 7600 I'll have a quick look now at the Dow Jones before we wrap up the video so after creating yet another record high only at the beginning of this week the Dow Jones has appeared to kind of pull back a small but given off some of its gains but seeing as we've had a lot of buying on the dip in the last number of months we could see some fresh buyers enter the fold should we continue to push lower on the Dow Jones we may find support in around the psychological number of 24,000 or even maybe perhaps down as low as 23,891 but the wider trend for the Dow Jones has been very much to the upside so if we do push higher we could be looking at retesting the all-time highs of 24,535 but that's all from me this week thank you very much have a good trading week and good luck