 Hi, good morning, and welcome to today's products and focus the Chinese situation seems to have kind of Flattened itself out with the on the actual most recent midpoint of the land up slightly firmer now Which was stipulated by the by the Chinese government So things are kind of looking a little bit easier today some great data coming out of the US yesterday For for retail sales wasn't it was it was beat estimates anyway, and you do have more data Later on in today's session, which is interest rate sensitive for the US. So I'm looking at GBP of the euro dollar and dollar yen They've all been moving sideways Action throughout most of the night session golds come off a fair bit as well from 1125 down to about 1115 So take from that as as you may but certainly the US macro data still looks good I think China now we're just gonna have a wait and see approach Should not be constant devaluation of the of the UN and ultimately, you know as a fixed currency It's not free-floating the same as you know the euro and the dollar and everything else So of course there needs to be instances where they need to Just kind of certainly change that peg with slightly so it's not a massive massive surprise You know people are looking at a China creating this big massive currency war is all just kind of propaganda and everything else So yes, they will look to devalue their currency to try meet themselves more competitive But they're only just doing what everybody else is doing to a certain extent So that's currently where we sit with the US 30 volatile session I don't know if that's really versus the previous day session as proper volatility right there But kind of a doji formation yesterday is doing lots of indecision same again today Just trading above potential support at 17361 other technicals are pretty neutral So having a look at the UK 100 Because of all the mining and oil and gas stocks that make up the UK 100 pressure is still on this index So we're trading below potential support 6589 negative day yesterday slightly negative day bearish cross in the Mac the other technical show extra room for a mover and That's currently for we where we sit for the UK 100 Looking at Japan to do five because dollar yen isn't doing a huge amount either is it in between two ranges 2868 potential resistance 20 087 is potential support Gives you a flavor of that And then having a look at dollar yen in more detail It looks to be last couple sessions oscillating around 124 42 technical indicators completely flattening out And we're not seeing a massive gain by the US dollar But we're not seeing a continued slide that we have been for the last number of days So with the data if I should go back to Thursday You can see the retail sales data right here how we had it was expected to be at 0.5 0.6, it's not like it's amazingly like smashing it, but it's still better than what it was expected to be And if we then look at today, you've got your zone CPI, but you've got this other US data of PPI due at 130 UK time And I think that's that's going to be quite keenly watched as well So looking at West Texas crude it's down even more it's down even lower this morning below potential support It was down at 141 32 it's 142 dollars is the potential support next potential support It's all the way down at 35 dollars to be honest Crude oil inventories Much higher than expected that kind of caught the market off guard You see yesterday's candle is about a 3% drop in west Texas crude So we're now currently and what we were first thing this morning below the 2009 Kind of crisis point to certainly I think six and well actually that's not right six and a half year lows currently It'd have to be 35 dollars or less to be below the credit the height of the credit crunch Um, but just look at look at the steepness of of the sell-off we've seen west Texas since the The end of june there. It's just it's dropped about looks to be about 30 percent to be fair So that's West Texas crude fundamentals not it's in its current favor with Iran China slow down Potentially rise and increase the US dollar, but it's gold now that looks kind of interesting So we've had these last three days of real strong growth and they're Relatively strong reversal. Yes, the following on from that stronger than expected retail sales Having a look at some of the short-term u.s interest rate markets They're taking the opposite direction though. They're doing yesterday now I think many traders are waiting to get this last piece of ppi data the u.s Today at 130 uk time to again reevaluate the likelihood of rate hike in september Though it does just feel that there's just so many different patterns in play right now that september just seems like it would be Uh, it's just way too soon and a little bit unnecessary But who knows how these things pan out? Certainly, there's about a 40 45 chance priced in looking at the short-term us interest rate markets But that goes up or down depending on the macroeconomic data coming out of the u.s And even though there is a slowdown in china and everything else the macro data It's all data dependent right and these data events are coming out pretty I'm pretty well So the next potential support our resistance. Sorry. It's still at 11 37 But we're miles away from our potential support on gold And normally you would take the tip of this candle right here Uh, which was broken resistance now acting as support probably around about 11 10 So we're not a million miles away from there So I'll leave that on there for now and see how gold finishes up later on in the session So euro dollar managed to keep it head above one spot 11, which was potential support longer term potential resistance one spot 14 Is 74 Other technical relatively neutral with only the rsi just about to go into over Bought territory, but it's not done it yet and you can see the tips these candles are in about 112 20 Uh, it could be short-term potential resistance just the tips of those candles there You can just see it from friday the 10th june I'm just more so recently It's a fail to break above that but we are trading above both moving averages Which should be seen as a short-term positive from a technical perspective And then finishing up the gbp usd as ever on spot 56 is the level of the day and it's continuously Oscillating around there and it seems we have been doing it for the last month and a half easily So you can look at the other technical indicators. They're all very flat So that's the kind of data for this week. We fast forward on to monday not much to talk about Choose the whole host uk cpi and ppi and rpi data 930 So if you're a cable trader, maybe you might be able to break out that one spot 56 range Um, and then if we go on to wednesday, you've got crew alimentary So there's not really a huge amount of economic data for the next few days to start off the week So make the most out of the the data There's no chinese day at the weekend, which are great because that sometimes causes a bit of havoc on sundays But yeah, make the best use out of the data that's due today So you've got your own cpi and the us ppi data as well So I can see there's a number of clients and seems markets analysts posting some good content on the chart forum Make sure you make insights part of your layer going forward and join me again on monday to find out what happened next