 Good morning and welcome to today's products and focus so most global equity market is actually taking up a little bit higher this morning US 30 the SPX 500 both finished at all-time record highs yesterday as the market takes delay and interest rate hikes as being a very positive Factor in the global financial market right now the big issue being is that if the music stops? There's no chairs left what happens after that so I Could imagine you're going to continue to see the equity markets continue to creep up But then it all comes down to earnings and how do you support the economy and they've got no interest rates left to cut because they won't Hike them and there's a lot of dangers in this particular strategy I think people should be aware of but what I've seen happen here before is in this particular type of situation is that the markets Will probably very likely to continue to grind up ever so slightly higher day and day out until you can't keep ignoring the economic day anymore and Not raising rates. There's a bit of a balance in that between not raising rates to keep it keep the economies going and then Raising rates to give yourself a little bit of a back foot because of the economic day it keeps on coming out bad they've already done a lot of the major stimulus measures that they can do and that could be an issue in the future, but nevertheless the markets is taking bad news as good news as We're looking to have a delay in interest rate hikes in the US and the US 30 SPX 500 at record highs as we stand UK 100 Bounds around 69 64 I guess a lot of news people are coming across to right now is the EU referendum and When that's going to happen for the UK obviously sooner rather than later I've already seen in the news today about Deutsche Bank already saying that they're potentially looking at relocating their headquarters from London Which employs 9,000 staff back to Germany or they're considering opening up by a working group to discuss the aspect We saw some of the thing with Scotland They were talking about leaving the union with standard life saying they're going to have to move their headquarters to other places So there's a lot of political guffra at night to be honest, but that's probably going to be adding a little bit of a little bit of interest In the UK market and the sterling over the next couple of weeks and months incidentally be hearing a lot of people talking about that So Japan 25 soldering on ever up higher and interestingly about 40% of the stocks on the on the neck I are trading below their book value and they've got very low P ratio So then they make decent profits, but the valuations are still quite low obviously historically Japan 2 to 5 well behind a lot of its other peer groups and Never tackling that 20,000 and 87 level Japan might still do more stimulus for the Japanese yen. They said they don't want to but they will do And and that that lower Japanese yen will help to spur on Japan 2 to 5 And I think a lot of it a lot of a lot of Further potentials possible in Japan to do five should the favorable conditions remain in play and that is as long as the Bank of Japan does not Keeps the ace in the hole about Japanese yen stimulus Or go into the easing that's going to help to to curtail Japanese yen. So continue to weaken that and Continue to make stock valuations in Asia quite attractive So we're getting quite close to that multi-year high around about 20,000 260 and we're trying to break through potential resistance today 20,000 and 87 Moving on to dollar yen is back up towards 120 is actually at 119 94 right now Doesn't really get that exciting until we get close to close to 121 87. So part that one for now West Texas crude Suffered a bit yesterday Saudi Arabia came out with their latest Production reports saying they almost had record exports of crude so far this year So oversupply abundance of supply. That's depressing prices at the moment Even as everything's spiraling out of control in Iraq and Yemen and everything else so U.S. Dollar obviously getting a little bit of Momentum versus the sterling and the euro today Overnight and today again, and that's helping to depress prices ever so slightly We're getting a very interesting candle formation right here with a series of lower highs That could get ugly if we have a neckline break below 5695 It's not a yet though. So gold's probably suffered a little bit after we had that increase in the dollar I'll be it feels more like profit-taking rather than anything significant very mind There's no idea that came out yesterday anyway to 1218 looks to be an interesting support level For gold bugs out there as depending if you're bullish or bearish on this on this product obviously That's going to be quite a strategic level to be aware of so finishing up with your dollar and GBP USD So your dollar actually coming off relatively harshly yesterday and again today even though Deal with Greece seems to be on the cards there are some traders out there who are a little bit more cautious and They are selling the euro aggressively against the USD and There's actually a much more aggressive candle formation for yesterday and today We're already at the session lows and what sterling GBP USD is currently showing So if we do continue to see a selling pressure one spot 11 is the next potential support level And if you look at that same chart for for sterling obviously quite negative day yesterday Not quite so aggressive today We're bouncing between positive and negative just now But could do with a little bit of a breather typically does this where it has done in this current leg up one spot 56 is arguably going to be the next potential support level for those looking for the next leg up So I come at data wise actually days good day for cable and UK 100 and your dollar in fact You've got a whole host of UK CPI and PPI data. So it's all an RPI in fact So lots of inflation related data And then later on that we have Eurozone CPI ZDW business report that's gonna be big. It's a German report But it's big for the whole of the Eurozone because of the Germany such a big trade partner there and Then later on again, you've got More PPI and you've got the Bank of England minutes. Oh my god. I'm looking at the wrong thing now Let's go back on to my my daily my daily view Which is the 19th and Yeah, so MPC minutes actually tomorrow so we fast forward on to there You can see you've got German PPI and the Bank of England MPC minutes and obviously crude oil inventories So as ever keep your eye on the Char forum make insights popular going forward and join me again tomorrow to find out What happened next?