 Hi, good morning and welcome to today's products and focus big reversal in global equity markets Yesterday and today even as fOMC came out last night and said that they will not be raising rates before April Which was you know the terminology was quite surprising because everybody was thinking about it's gonna be mid-summer Anyway, and they've just said well, we won't do it before April Which I thought would be a bit more bullish for interest rates and saying that the dollar has rallied and dollar yen spiked up cables drop down Euro-dollar obviously on the back foot but not as much as I would have thought and equities are driving up that little bit higher with the US They're a potentially hitting short-term potential resistance at 17 3 70 F38 8 and as you see it's already tried to break above that but to get pushed back down again Which close to that 21 period SMA all of the technicals are neutral But we do have a little bit of economic data directly on today. You've got unemployment claims I'm to be fair. That's pretty much it from the US and quickly fast-forward on the Friday. You've got Chinese CPI I love the non-farm payrolls So a bit of a big day on Friday and you can sign up to our webinar Our live webinar that they would do if you go to support and in live trader events you can sign up and Join our session with our market market analyst Michael Houston who has got a massive focus on FX going forward So UK 100 not quite as bullish as the US 30 which are closer to us all-time highs than what the UK market is They can so we're getting quite close to go in general elections here in the UK. So we've got about three or four months Probably one of the most hotly contested elections in years. It's gonna be quite close And that's maybe having a bit of an impact on sterling as well But it's probably gonna have a little bit of a downwards pressure on UK equities as well until we have a bit more clarity As to which direction it's gonna go and whose policy is gonna come in going forward Support 64 15 resistance potential resistance 65 89 on the UK one hundred Japan 225 Well, this is getting a shot in the arm because dollar yen is completely reverse course It was done about 118 the other day. It's quite close to 120 right now next potential resistance 17 4 96 As that dollar yen continues to unravel or not unravel but shut up higher as the safe haven yen buying Kind of stops. I should say we've seen a big reversal and gold in the back of that FOMC statement last night as well Got about $10 down to 120 7 safe havens aren't flavor of the month today, but they were a few days ago instantly But 17 4 96 the level to watch Japan to do 5 if we quickly jump on to dollar yen You can see they were having another surge there today We might challenge short-term potential Resistance it's more like 120 spot 80 with a longer term potential resistance one spot 21 87 and everybody's pretty Talking up the USD pretty bullish the USD For as long as the MAC with data comes out nicely and the FOMC statement just adds to that So looking at West Texas crude and oil inventories came out a lot worse than expected minus three million barrels That gave it a little bit of a of support pushed up higher But as you can see today's candle we're already again in negative territory, so we're at 80 47 60 But the low has been below 47 at 46 81 Let's see what happens today So they had the price support if it doesn't continue higher on the back that we can then that we can anticipated crude figure then What's next for for West Texas the pressure still on Looking at gold. It's always been a Interesting one a bit of a tough one to gauge at I personally don't like trading a lot of gold because it is not responding as Well to some of the fundamentals as indices and FX and crude oil for example But nevertheless it did react last night as you would have expected with the FOMC mentioning about US interest rates Not before April Which is a bit earlier than what some analysts were expecting has come off ever so slightly It's obviously not a Titanic sell-off, but a failure to break 12 18 has brought it now to 1208 So a $10 drop so finishing up with your dollar your dollars on a weekly chart again Let me change that to a daily your dollar on the back foot Not at the lowest has been but one Spot 18 is fairly low one spot 1642 is the next potential support level Any move higher might result in a retracement up to one spot 18 72 which may encourage sellers to come back in if we do get that move for then a longer term move back down to one spot 1642 as what some traders may be looking at Finishing up with cable that that general election really weighing on the performance of the sterling Really bad five days right here Very aggressive almost coming off five cents against the dollar Looks like it's very I very firmly on up one spot for a 13 is the next potential support level There doesn't seem to be much slowed down right here They've been volatile at these two are these two candles, but still ended quite negatively And we're dropping further as we speak and we do have UK interest rate decisions you today But that's not going to be any different from usual to be honest So that gives you an idea about where we are just now keep your eye on the chart form as ever Make insights popular going forward and join me again tomorrow to find out what happened next