 Hi, good morning, and welcome to today's products and focus so most global equity markets as you come off again overnight us not so bad actually European equity markets and the US dollar have been hit hard as As bonds fold off as yields began to soar last night many traders still scratching their heads over exactly what's going on in that instance But it is Making some traders nervous out there and you are began to see an unwinding office and longer-term positions as well Especially the usd losing ground against sterling the euro and the Japanese yen like dollar yen is backed out our famous 119 level But if you have a look at the US 30 dodgy formation again on this market trading between two ranges 17 of basically 18,000 trade above both moving averages, you know Endesies are not where the action is well us 30 is not where the action is right now looking at the UK 7100 this looks a little bit more worse for where breaking below 6906 Targeting 6771 with a Mac D crossing the zero line We are below both moving averages as the SMAs look to be turning towards a death cross Obviously just start the session, but we are below 6906. So this looks a bit top-heavy Arguably a head and shoulders formation. There's your shoulder your neck and your other shoulder a comfortable break below 6906 would be negative from a technical perspective. So moving on to Japan to do five again bouncing off that uptrend Dollar yen not really aiding Japan to do five to greatly the more than since the yen is gaining a little bit momentum Restricting the competitiveness apparently of some of these Japanese equities Trend line still intact though. We've not had a breaking close below that But we are looking quite close to the 55 period SMA Other technicals are relatively neutral sands the Mac D. That's just about across the zero line And that's not a great candle formation to have at the bottom of a support level Because it's in ticket with the fact that there is significant selling pressure. That's pushed that down Moving on to dolly M Dollar yen is actually trading below 119 now and if that continues 117 36 things get a bit more interesting for Your for dollar yen Should the markets now be taking the fact that the US dollars not gonna have a rise in interest rates We had some data coming out of the US yesterday. That was well worse than expected your retail sales, for example Supposed to come in at 0.5% came in significantly lower I think that's why you've seen it a lot of big moves in the bond market as well as people getting to price in their potential rate hike not in 2015 at all And obviously that's just the way with the data being so weak that that's not that surprising and Long dollar bills are now unwinding their positions And it actually ends up being probably quite good for the US economy not having a strong greenback Because it allows them to be more competitive in that sphere. So I Wouldn't be surprised if this is the start of Couple of months of US dollar weakness coming in this has had such a great run So moving on to West Texas could the dollar weakness should be good for commodities longer term To provide them a little bit of support. They had been getting battered about a little bit 5950 is potential support level on West Texas 64 is the longer term potential resistance Could it all on turries came in quite high yesterday as ever. That's not really depressed prices too much We do have a negative candle yesterday But still looking not so bad Looking at gold goals had a real shot in the arm fall on that real bad The retail sales figure in the US and the fact that interest rates probably starting to ride anytime soon gold very sensitive to interest rate increases with almost everybody now saying that 2015 is just not going to happen now So 12 18 as potential resistance, it seems to be holding for now Which also coincides with tip here then April does break our 12 42 longer term potential resistance However, we're not really being out of that This for a month and a half so far We've not been above it since February so let's have to wait and see what happens But 12 18 significant level for gold traders to be aware of so finishing up with your dollar with your dollar On that dollar weakness. We've broken above the tip of this candle at 113 80 We've got to be targeting one spot 1642 as a longer term potential resistance right now. This is a technical breakout on the chart Technical indicators are of course massively overbought to do bear that in mind But the candle does look particularly bullish in the short term Finishing up with GBP USD. Sterling is on an absolute run right now and some commentators are looking at the conservative win as a Long-term play for those that think Britain has a chance of leaving the Euro Which may result in a breakup of the Eurozone itself because Britain goes other countries richer countries As in countries in the north of Europe might also look to shake off the the weaker countries in the south And you've seen this is a very strong sterling positive should the referendum obviously go in a non-Europe stance and the way that I think the Public feels about Europe right now in this country I think if they did have a referendum on Europe a lot of people here don't see a lot of the benefits So I wouldn't be that surprised should I Referendum happen if Britain does end up leaving Europe Which would be very strong for the Sterling as people would have to buy up lots more sterling to do business for Britain and that would be a long long-term sterling positive Just have to wait and see what happens But certainly if you look at the performance, it's not apart from the fact the conservative government taken over There's not much change in regards to the macro data. So it's not an interest rate move that's driving the sterling So that is something to think about so I come with day wise you do have unemployment claims PPI Due today, so a couple of interesting pieces there and on Friday nothing that exciting You've got a consumer sentiment survey nothing to write home about and if we actually just fast-forward on the next week Monday Very little Tuesday lots of UK data euros on data looks like Tuesday's your next big day of macro data events So keep you on the chart form as ever make insights popular going forward and join me again tomorrow to find out what happened next