 Hi, good morning and welcome to today's products and focus. There's a couple of kind of general themes to be aware of this morning There's one one aspect that's kind of interesting which is the bond yields in America versus the bond yields in Europe And what we're seeing right now is just a little bit of divergence there for the yields in the US or that little bit higher and the yields in and Europe are a little lower and as Draghi's been going out and commentators have been believing that they might be Kind of potentially going to negative rates That's obviously reducing the yield on the on the buns and that means lots of investors from Europe are flooding into the American market and what you're kind of seeing is the potential there for that divergence to go even further for the yields in America and the and the yields in and And Europe are just getting that a little bit further away And what that's causing is a little bit of a squeeze there and the value of Of gold and gold's also been a big hedge against inflation and all the extra Kind of interest in US bonds is actually Increasing that inflationary danger. So that's why everybody's piling into gold right now And when we look at gold from a technical perspective, it was I can have a triangle formation it's just had a technical break out there yesterday and It's looking very very interesting for those traders who have a bit of a gold bug regardless if you're thinking about going long and short It's it's one of the markets that's moving the most at the moment In regards to oil related news You had the Algerian oil minister kind of come out and say that there was going to be a potential Secret meeting again, and they love these secret meetings right now Somewhere in Russia between OPEC and non OPEC members and then a Russian oil minister came out and said, oh, no That that was never scheduled to happen. I don't know what he's talking about Well, nevertheless, there's still lots and lots of stuff going on the Algerian oil minister Before he got quite a quickly shut up was kind of saying that the news that comes out of this meeting Could have a big impact in the oil prices blah blah blah Maybe it's all just smoking mirrors who knows but that's the rumors that are still circling around in the markets the last piece of fundamentals is really about Donald Trump and The markets really just don't know what to do about this guy And now that most of the other Republican nominees are just fiercely attacking him saying you know go vote for anyone else Just don't vote for him. Wall Street just doesn't understand what impact he's going to have should he Remotely have any chance of getting in but Hillary Clinton as discussed before they've got a bit more of a cozy relationship You know, she's given lots of speeches and whatnot There's she but more of a known quantity with Donald Trump who knows what that guy would do if he ever got in so That could add a little bit extra volatility the closer we get to November Obviously depending if he gets the Republican nomination or not So you can increase in likely that he will and then we have a Hillary Trump kind of battle to the finish and that would be interesting for everybody I think and The markets and that instance would certainly be a little bit on show So that's the kind of the current fundamentals that are kicking around right now Let's have a look at things from a technical perspective So as ever, I like to start off with the US 30 slowly grinding that little bit higher decent day yesterday Not a whole bunch of follow-through this morning. We're edging closer to seventy zero zero with thirty eight Seventy seven percent of seems you marks clients are currently short So they're anticipating that the closer we get to here We might get a bit of a sell-off break back down to here But the markets are looking relatively resilient and considering the technical indicators are not all overbought the slow stochastic is But it's not yet given a signal to sell Moving quickly on to the UK 100 Not as strong performance as what we've had in the US a bit anemic at the moment Actually, perhaps slowly drifting down towards 60 70 log return potential resistance 63 27 70 percent of seems to be markets Clients are currently short slow stochastic flattening out edging slightly lower The the MacD histogram slowly grinding lower as well. This looks a little bit weaker, especially get a sell-off in the commodities Looking at Japan 2 to 5 looking a little bit more healthy 53 percent of seems you mark clients currently long almost 50 50 slowly Edging up here breaking above 16 896 next potential resistance once we get past this 55 period SMA 17 6 58 Then moving on to dollar yen Not really doing a huge amount these candles here are indicative indicative of the fact that is selling interest Just every each time we try and push on that little bit higher sell off push on high sell off So we're actually making a series of lower highs right now, and we're hugging that 21 period SMA Not a much to get excited about moving on to Cudall West Texas still moving up a little bit a little bit higher We have doji formation last night not a lot of fall through today 82% of CMC marks clients are currently short And you can see each time it tries to push up it gets it gets pushed back down again But it is slowly grinding higher then moving on to gold technical breakout You can see that a little bit clearer yesterday real push on higher I actually broke above the high right here only to close a little bit on the right side next potential Resistance is at 1307 any retreat we might hit this sloping trend line as a potential support Finishing up there with euro dollar and GBP USD euro had a big day yesterday Cap a potential cap of that 55 period SMA still trading between two ranges one spot 08 and one spot 11 and then finishing up with GBP USD The Starling finally getting its act together and moving on that little bit higher as well Traded between two ranges one spot 42 28 and one spot 41 29 And that is my three four different four days of gains Which I don't think we've actually seen on GBP for quite some time So that gives you a bit of a flavor and obviously today comes with it non-barm payrolls Make sure you guys don't forget about that. That's a big one forecast 190 previous before is 151 missed expectations Will it smash at this time? Well, you have to tune in later on to find out. Well, that's it from you guys join me again Next week actually I'm away on holiday, so I won't be back until the week after so hopefully the markets treat you well And join me again a week on Monday and we'll see you then take care. Thanks a lot and goodbye