 Hi, good morning, and welcome to these products in focus. Most global equity markets are that little bit higher after Janet Yellen's testimony yesterday Which was kind of very accommodative in regards to not being kind of shoe-horned into raising rates too soon Most of the market basically taking her Comments to be more dovish on the US dollar Most global markets are higher and the US dollars from it in the backseat Overnight and again further this morning with most FX pairs such as cable and your dollar all higher for his dollar Yellen is a good hundred points lower now where it was yesterday, and as you can see we're comfortably at an all-time high on the US 30 breaking above 18,200 we're currently at 18,210 And it's probably worth us having actual look at adding some Fibonacci price projections to this or the next couple of Next couple of sessions that builds up more price action above the broken resistance here So looking at the UK 100 Again, we had a I think we might have had an all-time close last night incidently Getting closer to that seven seven thousand round number 6906.8 will be the potential support level as broken resistance now reversed Hopefully anyway acting as a springboard for further price action to go higher Japan to do five breaking above potential resistance at 18648 longer-term potential resistance at 2868 and Even though we have seen a bit of an increase in the yen This kind of reversal new US dollar kind of feels potentially a little bit transitory even with the comments Janet Yellen basically said that they're gonna take Their view on new US rates meeting by meeting so it's not like they've actually come out and said oh We're not gonna raise rates this year at all There are still some number of commentators out there that think they will still happen at some point during the summer It's just when it happens that's gonna have the big impact But today the foot is firmly off the gas in that regard and that's caused a dollar yen to go from almost 120 back down to 180 which we'll come back to in just a second so actually jumping on to dolly and you can see the volatility as Dollar bulls actually were anticipating that yelling was gonna be a bit more hawkish than what she was My favorite look at the front page of the Financial Times this morning The the FT has taken it to be actually relatively bullish But other commentators obviously and the markets have taken it to be quite quite dovish in that regard So we're back back to the boring levels on dollar yen of about 119 Not much else to talk about in the FX pair for now until it breaks out one direction or the other So crude seems to have stabilized slightly again another down day, but only just It is crude oil Wednesday, so we do have our oil inventories due today at 330 UK time They're the cut and Libyan production output because of obviously trouble in that region so that might offset any increases in crude oil Distillate, so I think that's why you might see a bit of a stabilization last number of sessions When we've had crude oil inventories with Texas taking a bit of a knock you might not have that same impact today so gold Obviously had itself a good day yesterday As that you're very sensitive to interest rate rises in the US as that gets called into question gold gets a bit of a rally The closer we get to 1218 the more that feels like that is a pretty significant resistance level again or for gold We've almost got death costs on the moving averages and the other technicals are relatively neutral sends the slow stochastic that's actually firmly an oversold territory almost curving up about to give us a reversal signal as it breaks through that 20% level that might add a little bit of technical momentum there. What's only 1218 is a new potential resistance for Gold bugs to be aware of but be interesting to see if the dollar is able to turn itself around as more US macro data If it begins to impress instead of be more meddling as it has been the last couple of sessions Moving on to Euro dollar as that grease Data for reform For their next tranche of their well for their four month phone extension instantly had looks like it's it might be approved But you're not seeing a huge amount of movement on your dollar On the end of the day charts, you can actually see a bit more spike and and your first at the expense of the US dollar because of the Weakness and the green back right there still firmly in this asymmetrical triangle formation so just waiting for a breakout one side or the other and moving on to cable It's actually getting springing back into life again One spot 56 is next potential resistance Excuse me and as we get quite closer to as we book above potential resistance at one spot 54-24 That now should reverse and act as a new support level So we might end up trading in between this range for a little while But one spot 56 is not that far away So that would be an interesting level for us to break and that would be our high point for 2015 so far as well Above there so in regards to taking them a data China be at expectations of their PMI so some people thinking well the PMI data there be a bit better than expected Means that China might not embark on such a big stimulus program blah blah blah blah So you've seen a lot the Asian markets not had a huge rally on the back of that that data that shows a chance Not slowing down necessarily as fast as what some commentators would think and obviously we've got that crude oil inventory Data due to date at 3 30 make sure you got your arm set for that if you were trading with Texas Moving on to Thursday. You've got German retail sales consumer confidence and employment data followed by UK GDP and then finishing up there with US CPI durable goods and unemployment claims All of which will be pretty important if you're trading you a dollar or cable or lawyer instantly Keep running the chart of form as ever make insights part of your late going forward and join me again tomorrow to find out what happened next