 Hi, good morning and welcome to these products in focus US 30 there is slightly recovered from from yesterday's fallout as oil prices Tumbled to a five and a half year low with West Texas coming down to about $47 and is almost breaking 47 going to 46 as we speak We have actually managed to close above potential Support at 17361 that was yesterday. We're still a little bit on the right side of that this morning most global equity markets are slowly grinding higher, but With a big lack of confidence to to move forward. So I think the pressure was something beyond and we do have very important Eurozone inflation data today, which will give people much better idea As to the possibility of Mario Draghi coming out in the 22nd of January To do the next round of quantitative easing that might be too soon But some people think if the inflation data comes out two weeks, then he might not waste any time and just go ahead and get Started. So if that doesn't happen on the 22nd, I think the market will react Quite negatively and their usual regions, but also your dollar where a lot of that has already getting priced in So right 17361 is a level to be aware of we're moving on to the UK 100 again firmly on the wrong side of the line 6415 is a potential resistance. The longer term potential support is quite a long bit away at 60 73 There's nothing else really to report the technicals are all quite quite neutral But as you know, a large number resource companies from the UK 100 if oil keeps on sliding UK 100 looks vulnerable as does Germany 30 which came off quite a lot yesterday as well. So Japan 225 Has had quite a strong rebounds this morning. I think there's more Quantity easing aspects being touted in Japan sooner rather than later Dollar Yen's had a little bit of a rebound as well all the way down at 118 spot 20 yesterday But it's back up to 119 at the moment. So it's 118 20 Learned about 11 o'clock yesterday morning, and it's kind of recovered ever so slightly As there's been a slight rebound in the equity markets as well So there's a little bit of that kind of risk back on But it feels very transitory right now. So looking at dollar yen, you'll be able to see that move right there Taking its head above potential resistance of 119 But potentially kept that 21 period SMA with the other technicals quite neutral apart from the slow stochastic there We still got a crossover Which we seem to be negative in the shorter term So moving on to West Texas crude firmly And a downtrend still $35 is the next potential support level 50s being smashed. It stayed below 50 There's not been a rebound back above that psychological round number and oil production And Russia and Iraq for 2014 was the highest it's been in decades, so it doesn't seem to be any change and The move from West Texas, but that's not to say that completely out the blue that there might not be a cut production Maybe OPEC and the country might come to some sort of agreement to be very careful when trading crude Especially if you're looking at from the short side because there's any number of things that can magically come out Which can cause quite a big rebound, but certainly for now. This is still firmly in a downtrend But just be wary of any snap Mako fundamentals that could impact West Texas and Brent. So moving on to gold gold push above 118 Yesterday was the potential resistance level that we identified there only to finish below it I was unable to capitalize false breakout, which could have targeted 1242 Obviously if the equate markets sell off again We might get a re-challenge of that level Looking at Euro dollar Need to look at this on a daily basis again. It's all about the inflation data due to date at 10 a.m UK time Expected to come in at minus 0.1 anyway, which is one of the lowest they've had since 2009 But it comes on even lower than that Then I think everything's all in place for for potential QE But they've been saying that for way longer than I them the most analysts would have expected With the zero action on their behalf. So the euro is pricing in potentially About QE and on the 22nd of Jan when the ECB meet again and that inflation data will be another partial of evidence to support that argument, but People have been waiting a long time for this. I really don't think that They really want to do it because it's the it's their last ace in the hole so to speak So that inflation data today should be very interesting for your dollar We're again taking at 118 72 a break and close below that opens up move to one 1642 on your dollar and to finish up there with with cable cables. We can get really badly smashed last couple of days We're almost at 151 Longer-term potential support one spot 48 and it doesn't seem to be much Coming up this supporting sterling in the short term as a dollar continues to to take full control of this FX pair In regards to a kind of data, this is obviously the one you want to be aware of CPI flash estimate at 10 a.m And then you've got adb private perils That's gonna be big for people looking for a kind of a sneak peek as to what non-farm perils gonna be on Friday And you've got the trade balance at 130 so that's 115 and 130 Make sure you've got your alarm set for that. You've got my reoccurring alerts on there Make sure you guys also have that fast forward on to Thursday industry announcement from the UK unemployment claims from the US And that pretty much brings us on to Friday More Chinese PPI and CPI data and this could be pretty important as well And obviously finishing up with a lot of this Important US data such as number of perils and average earnings and unemployment and join me again tomorrow to find out what