 Good morning and welcome to the weekly market update with me, Tim Badden. Today's date is Monday the 23rd of September, Twitter 19 and the time has just gone 11.55 British summer time and it's been a fairly weak start to the European trading session. If you look at what happened in the US at the back of the last week, the Dow and the S&P closed in the red and that was partially driven by the fact that US China trade talks were continuing in the US, they were constructive, they were productive but they ended up properly. The Chinese trade delegates went home earlier than originally planned and that said not the wrong message in the market. So we did a slightly negative finish to the US stock market session back on Friday. There was a bit of that hanging over the beginning of the European session today and then that was really compounded by the fact we had poor manufacturing and service figures out of both France and Germany who are obviously the two energy economies in the eurozone. The figures were posted to Insights, it says it can be found on our trading platform here. If you under news and analysis, second option down is Insights. It was posted here, the French figures came out at just 8.15 this morning. So you can see here the French flash manufacturing from September came in at 50.3, well below the expectation and there was a decline in the month as well. For the services figures that are France came out at 51.6, also below expectation and also a steady decline of the month. Now get ready for the worst one of the morning session was out of Germany. The German flash manufacturing reading came in at 41.4, well below the expectation of 44 and it was a sharp decline from the 43.5 that was registered in August. Today's update, the 44.4 reading was the weakest in over a decade. So the German manufacturing sector has been a decline all the way to 2019 and now we're at the weakest point in over 10 years. So we get an indication of how the global economy is changing and that ties in with the US China trade story. If the two largest economies in the world are having a trade span, you're going to have ripple out effects and we're seeing that. These poor numbers today from France, from Germany really confirm our vindicate rather. The reason why the European Central Bank cut the deposit rate further in the negative territory and announced a stimulus and a bond buying scheme and they also made calls for fiscal stimulus as well. So it really shows you the trouble that's in the euro zone. Adding to that, the UK is set to leave the European Union for the time being. It's looking like a no deal is a possibility and given what's going on in mainland Europe and in the euro zone, the lasting that region needs is a no deal Brexit. So that's also playing into the slowdown in the German and French economies. I'll take a look now at the week ahead article on the website and then for that we will look at some charts. So if you go to cmcmarkets.com and under insights and they click and then on reduce analysis, you will find most of the updates by myself and my analysts colleagues do. So looking ahead to tomorrow and Tuesday, we have a German IFO numbers. That's going to be of interest in light of the dreadful number of fashion numbers out of Germany this morning. Tomorrow, well, tomorrow it was the Thomas Kirk travel crowd. We're supposed to have their full quarter update. It is worth noting over the weekend the company did go into an administration. So and there's an article covering that here on our website as well. I'll talk about how the Thomas Kirk share price curtain comes down. So obviously the travel sector is going to remain in focus. We saw the likes of Tui and Reiner do quite well on the back of that of the demise, the fortune demise of Thomas Kirk today. Tomorrow, Tuesday, we have US consumer confidence. Last book can be of interest given that the US China trade standoff has gotten worse and worse in terms of the tariffs being imposed. So at some point, that is likely to eat into consumer confidence in the US. Tying in with that as well, we first quarter figure results from Nike. On Wednesday, we have first half figures from Boohoo. On Wednesday, we have the Reserve Bank of New Zealand interest rate decision. On Thursday, we have the final reading of the second quarter of US GDP. On Thursday, we have fourth quarter figures from Mitchell's and Butler's, the punk crowd. And on Thursday, we have third quarter numbers from Carnival, the cruise operator. So take a look now at the FTSE 100. I'll run through some charts now, covering the most popular markets. As I mentioned, it's been a negative start to the major indices, major European indices and European stock markets. So FTSE 100 has a fairly, like global stock markets, had a fairly severe sell-off in late July into August, but the market has been recovering. But that recovery is kind of a bit of a question over the recovery. The market failed to kind of head up towards 7,000 to 400. We've been hanging on in this area for quite some time for a number of days now. As long as we hold above the eternity moving average, this red line here, which comes into play in around 70, 72, 20, thereabouts. As long as we hold above that, it's likely that we could see a push higher from August continue. And if we do press higher, we could be looking at targeting 7,400. And then beyond that, up to 7,470. If, however, the market does manage to turn lower and we do have a size of break below the eternity moving average, then we could be thinking about heading back towards this zone here down around the 7,040 market. I'll take a look now what's going on over in Germany. As I mentioned at the very top of the video, the share market is in a fairly poor state in life of those pretty dreadful manufacturing numbers. So just waiting now for the take a look at what's going on in the DAX. So the DAX had a fairly sizable pullback between bounce back between late, so mid-August, operating through into mid-September. So a full month and almost a fairly decent rally. The market has, obviously this is quite a red candle here, quite sizable indication of the sell-off we've seen today, but it still remains in the portray. We're currently north of 12,300 and if you continue to hold above that metric, we can be retesting the recent highs here, achieved in the middle of September. And if you go beyond that, we could be heading towards 12,600 and beyond that up towards 12,660. If you do have a decent size of break below 12,300, we could be heading back down towards this yellow line here of the water moving average. And we can see in a few occasions that particular metric has acted as both supported a couple of times in the last few months. So the possibility that metric might act as support in the future, although there are no guarantees, and that comes into play at 12,115. And if you go below that, then keep an eye out for the cycle as important 12,000 metric. That area, we saw quite a bit of consolidation around 12,000 in the last few months. So it's a possibility that metric could be of importance in the future. Now we're turning our attention now to the U.S. markets starting off the Dow Jones. And the U.S. markets are in better shape than the European counterparts. They've also suffered declines very recently. But at the same time, the highs that they've achieved in the U.S. markets were not too far away from their old-time highs. So they're in better shape going into this more recent amount of selling. As you can see here, the highs they were achieved in mid-September were not a million miles away from the old-time highs here on the Dow Jones. We obviously finished in the red on Friday. You appear set to be looking for a slightly negative start to the U.S. session today. If you take a look at the, if you note the downward price action in the last two sessions, and that's, we can see from positive, at the MACD histogram, MACD indicator, you can see here that positive momentum is in decline. So the downward moves in stocks have been confirmed by the decline in positive momentum. So we could be looking at it back down towards 12,800 or perhaps this blue line here, the fifth removing average, which comes into play at 26,580. And if we go beyond that, the one removing average, this yellow line at 26,356, we can see that these moving averages, both of them, do have a history of not a long ago acting in support. And if they've acted in support in the past, it makes it more likely that they will do so in the future. But it is worth noting that the market has been bouncing back for over a month now. And if you continue to get a press on higher from here, it could be likely heading back towards 27,000 and north 27,200. And if we go beyond that, we're then towards this zone here in around 27,400. Take a look on the S&P 500. It's a fairly similar situation. The S&P 500, whereby the highs that were achieved in the middle of the month were not too far away from the old time highs. As you can see here, we have seen a few red candles in the last couple of days. We do appear to be opening lower on the session. And if we do manage to drift further down from here, this blue line here, the fifth removing average to 2947 might act as support. And we can see on a few occasions it acted as both support and resistance in the last few months. So it could be of a significant importance potentially in the near term. If the wider upper trend does continue, we can retake 3,000. We could be looking at retesting the old time highs in around 3,028. While we've had this uncertainty in stock markets, this is actually one of the markets that has benefited from it has been the gold market. And the gold market at the very beginning of the month without the hit is a six-year high, which should be this price here, up around 1557 odd. Then we saw a move to the downside. We saw better profit taking. We saw the metal fall back below the psychology port and the 1,500 metric. But then we have seemed to have a problem at the bottom in around this area here in around the 14, 85, 44 region. And essentially, we're kind of pushing off that. And essentially, if you hold above this blue line here, the fifth removing average, which comes to play in at 4086, it's likely that the wider upper trend is going to continue. And if you can press on that from here, we could be looking at heading up towards the recent highs of early September in around 1557, 1556. If you do manage to turn lower on us yet again, I'm going to take out the recent notes here in around 84, because they've been looking heading back down towards 1480. And if you do have us as a break below 1480, it could take us back down towards this zone down here, somewhere around between 1453 and 1430. So keep an eye on that area if you have a break below 1480. Obviously, the oil market, we saw major volatility in the oil market last week. And despite the fact that oil is well off the highest that we're achieved for beginning of last week. So the very big, yes, very beginning of last week, we're still pretty much up on the last few weeks. So obviously, with the attack on Saudi Arabia led to the oil market opening on the early hours of Monday morning way up here last Monday. And then the market has been largely pushing lower. The last few sessions, so we give it a pull back most of the most of the ground. That was good. But still, as long as we can hold, as long as we can hold above this area here, I can hold above, you know, say between say 63. I'd be hold above that same on the kind of 63 area or even the lows of last week around 63, it's about 30. If you hold above that, it's likely that you could see the more wide and more recent upward trend from early August onwards continue. And if you press it higher from here, we could be like a retesting 66. And then if you go beyond that, it could be like heading up towards the $70 per barrel mark. On the flip side, move to the downside, back to say below 63, could take us back down forward this blue line here, the 50 moving average, which goes into play at 51 by 55. And a move below that, you could find support from down around here in around 60 bucks per barrel. A big psychological number and that's something that traders often keep an eye for. Take a look now at WTI. So the chart pattern is very similar on WTI. So in a big move to the upside, and then obviously we've seen a fair bit of the ground that was made on that jolt higher being given up. But once again, if you hold above the truly moving average, this red line here, which comes into play in a 56 by 42, if you can hold above that, it's likely that the more recent upward trend of the next few weeks is going to continue. And if you do press on higher from here, keep an eye for $60 a barrel, big psychological level, big psychological number, and if you go beyond that, we could be like retesting the recent highs of in around $63 per barrel. If you do have a pretty solid move to the downside, which takes out the truly moving average, we could be like testing the middle September lows in around here in a $54 per barrel. And then if you go below that, we can go back down towards $53 per barrel. Take a look now at what's going on on the currency market starting off the euro versus US dollar. I talked about how euros on stock markets have been badly hit by the poor manufacturing and service figures out of France and Germany, similar situation for the single currency. The euro has been very badly hit by those numbers and remains very much in the downward trend that has been in for quite some time. And it is worth noting though that we saw some pretty decent support in around this area, in around the kind of one spot, 0.926 area. I liked that area as a support on a couple of occasions. So if you do look to press on lower, that area could act as support. But on the flip, it's also worth noting, if you do have a size of a break below that, that could be fairly likely to be of significant importance. And we could be likely heading back down towards 109 or 108. If you do manage to hang on to these levels, and we do kind of retake the 110 level on your dollar, we could be looking at heading back up towards this north of 111 here. And if you go beyond that, we could be targeting the late August high of in at one spot, 1164. And just finishing up now lastly on the British pound. So pound dollar, so wider trend has been very much to the downside. But this candle here, on the Tuesday, the 3rd of September, on a daily candle, looks to be a hammer formation. And we saw ever since then, you see a fairly decent bounce back in the pound versus the US dollar. Granted, we lost ground on Friday and we're in the red today. I think on the account of broad dollar of strength. But if you can hold above this blue line here, the 50 moving average, which comes to play at one spot 2275, if you can hold above that, we could see further gains being made on the pound versus US dollar. And if you press on higher from here, we could be looking at targeting this region here in around one spot 26. And if you go beyond that, we could be looking heading up towards this area here in around one spot 28. On the flip side, if America does manage to turn over on itself, and we do have size of break below the 50 moving average, we could be looking heading back down towards one spot 22. And a move below that could take us all back down towards the 120 region. Just before I go, for those of you that are based in the United Kingdom, for those of you that are based in around the kind of the West Bendons of the UK, there'll be the event on this week in Birmingham, which should be hosted by myself. You can sign up for it on our website, cmcmarkets.com, under insights, under learn webinars and events. This is the area we signed up for on, sorry, this is the page here. And the event is on Thursday, the 26th of September in Birmingham, and it's at 1830 for the summertime. It's when the event kicks off. And if you have any comments to make on this video or any of the other videos we've made here at cmcmarkets, please feel free to do the review of the reviews. Thank you very much.