 Hi, good morning, and welcome to today's products and focus and what a difference a day makes now the US markets actually recover quite strongly But most of the European markets are still firmly in the red Following yesterday kind of writing oil a lot of concerns that the currency situation Kind of globally with the strength US dollars going to spiral out control for the emerging markets And obviously those snap elections in Greece, which is obviously paying everybody on edge About what's gonna actually go ahead and happen next We actually had some decent data come out of the come out of China But that's not actually being able to turn things around that that strongly either so quite strong kind of this would be a hammer formation It was at the bottom of a trend But we are far far away from the lows the US very had reached yesterday and still trading above 177 38 So the US economy seems to be soldiering on so much further than any other Economy out there as one of the reasons why people are still quite bullish the US dollar But we had a huge turnaround yesterday dollar yen Reversing about 2% as our traders began to really unwind a lot of those bullish dollar Trades heading into the end of the new year. Obviously after such strong Kind of steep move to the upside it wasn't excuse for people to start to take some profit So I feel so for anybody who just entered into brand new dollar long position straight after non-farm payrolls because they Had a really hard day yesterday But I don't think the fundamentals really changed dramatically But there has been a large amount of profit taking taking some of those do this dollar positions But I think the mindset still is is that there's just like should just to go so looking at the UK 100 You can see here. This is an absolutely diabolical session there on Tuesday We had a real bad Monday bearish and girlfriend pattern very very negative pattern there on on Tuesday We're still down again a little bit today below that 55 period SMA firmly below 65 89 And really this is like a massive chasm all the way down to 6073 so UK 100 really wants to get above 65 89 sooner rather than later. Otherwise, it's in trouble So looking at Japan 2 to 5 obviously came off a little bit yesterday as the yen became the safe haven of choice obviously looking at gold Talked about there being a cap on gold around about 12 18. We'll let smash 12 18 yesterday on the back of that safe haven Appeal as no kind of treatment about 12 30, but we'll come back to that in a second dollar yen I went all the way down to about 118 this morning. Maybe last night So it's been quite a turnulous time for doll yen traders, but that that obviously caused the japan 2 to 5 to come off We are however just about trading on potential sports last resistance at 17496 The technicals are all over the place right now because of the volatility, but Uh, we could still be on track if we can just get a close above 17496 that would certainly help Japan to 5 but it'd be just interesting to to see how things Unravel today and tomorrow if we are actually seeing a period of risk offer. This is literally just a huge better profit taking Um across a lot of the the dollar majors And that obviously impacted dollar yen quite quite a lot because of those extreme moves. It's already gone through And the one product that everybody's kind of pointing to as to a major driver of This kind of market volatility is the price of crude oil And you couple that together with with the u.s. Dollar and implications that stronger u.s. Dollar in emerging markets um Again, you're obviously all the all the u.s. Dollars that have been utilized and been borrowed by those emerging markets And what those companies and those emerging market areas have gotten a lot of their debt off The right of the wage rates too quickly in the u.s. That could have quite big shockwaves right across the The regions there and people bringing parallels the 95 96 financial crisis when there's a very similar series of events that have um that transpired then that are happening right now i.e You know a long long term low interest rates coming to an end u.s. Dollar strength rampant and commodity prices severely depressed And we are now trading comfortably below 64 dollars We're at 62 70 iron up 59 50 on crudall west texas So gold had a very strong day yesterday smashing through 12 18 looking at 12 42 And there's still this aspect of new the stronger u.s. Dollar and interest rates how much higher can go go There's a very very surprising move that we've uh that that that we had yesterday with all the other fundamentals behind it But people are looking for safe havens, but we do have a treasurer top Uh potentially forming right here if this is unable to break through 12 42 That would be a quite a strong reversal signal But I wouldn't bet the bet the house on this and said gold had such a strong rally yesterday And we just need to get a better flavor as to where our u.s. Dollar is going next It does feel like that that pressure is very short term transitory in nature So finishing up with uh with your dollar again because the greenback Strength came off. We actually broke above 12 a one spot 23 67 We've been pushed right back down again. So the dollar can arrest and control a bit of the euro Especially those uh grease elections going on lots of uncertainty about grease bailout IMF stuff So we are currently pretty much bang on that level could be an interesting pivot for a move lower Things get a little bit more dicey in that part of the world. I'm finishing up with uvp usd Uh cap of that 21 period sma well seemingly cap of that 21 period sma Um resistance one spot 5743 potential support still remains one spot 56 So economic data wise is to finish things up. Uh, as I said, we did have some some Chinese data that came out slightly better than um than expected from uh, I'm sorry Not really worse than expected sorry for the for the cpi and ppi. It was monday's data. That was that was quite good And um, there's not a huge amount today and obviously thursday is when we've got a little bit more We do have jobless claims and retail sales. Uh, make sure you've got your alarm set for that neck and the calendar And as ever keep your eye on the chart for them You can see here. There's been lots of real great updates here from uh jasper lawyer our uk market analyst Um talking a lot about the big break out some and gold make sure you make insights part of your layout So you can be um, so you can be informed as you can see Market only surprises book of three from china greece and tesco yesterday Um, and with china it's all about potential stimulus and everything else Uh, I was all worried about potential slowdown in the world's second biggest economy And basically join me again tomorrow to find out what happened next