 Hi, good morning and welcome to today's products and focus and what you're going to see over all the news Channel this morning is a fact that Japan has now cut rates into negative territory Which is pretty much signaling a currency war potentially signaling a currency war against China I also do say they're doing it to stimulate the economy But with all the devaluation of the one and then I'm trying to increase it and all the turmoil in the stock markets Now what you're seeing is the yen getting exceptionally devalued We'll be looking at dollar yen in a minute because it means some incredible moves one incredible moves in the Japanese stock market The Japan 35 and to some very very impressive moves in dollar yen shoes whipsawing it was shot up Decreased I went right back up again But we'll be looking at that from a technical perspective in a second But what that means for the wider a packet of region is that's Japan signaling very very clearly that they are willing to do Whatever it takes for them to meet their objectives, which politically also has an impact on China So be very interesting to see for what China does next as they have to Might choose that they have to respond to that yen devaluation Now what happened before when the Chinese were devaluing the yon a lot just a few weeks ago Is that's what caused a lot of the stock market turmoil? Especially in the Chinese stock markets now they've actually increased slightly this morning Japan 25 in fact is up about three and a half percent in itself But again just sets the stage for what are the emerging markets in that part of the world going to do because they've got to deal with With the yon and Japanese yen to make themselves competitive does very much the landscape that we're in today also brings with it the CPI data from the Eurozone and also GDP from the US and Mario Draghi will be looking at CPI data with much with much interest especially as It basically means that if it comes in too strong and we're very difficult for him then to go ahead and make a Decision on kind of action by the ECB for QE or cutting rates if the if the data is strong It makes it difficult for him to cut rates The same for the US the US GDP figure probably has got the potential to come out slightly weaker than than forecast Only because we had some really weak data already come out in the US durable goods was pretty awful And maybe the GDP figure is a slightly a bit too punchy because obviously they make the forecast quite far in advance And we've already seen a little bit weaker data come out that part of the world So that's kind of setting the stage for today Eurozone CPI and US GDP that's kind of what you want to have your focus on today Keep your eye on dollar yen. That should be quite interesting and crude oil has been moving that little bit higher as there is rumors rumors as ever that of production cuts and OPEC lots of talk about Iran are the interested in cutting or not Because obviously they're gonna be flooding the market with five hundred thousand barrels of oil when they come back online as well But then they could capture each market extra market share if they don't do that Nobody really wants to cut production, but everybody's fueling the pain from the low prices as well But it's worth noting that crude oil prices have actually jumped up more than I think it's maybe about 21 to 25 percent From the lows that they hit late last week. So that gives you an idea of what to expect Let's go ahead and start things off with a look at the US 30 So you can get an idea of the moves that we've seen Most global stock markets are up higher this morning with the US 30 targeting potential targeting 6,200 and change there as well 2017 We're at the top end of the range 86 percent of seems to markers clients are currently short The tentacles are relatively neutral at this stage. We haven't been above this level For for most of The start of January until we've actually been selling off So it'll be interesting to see we can get a short-term technical break out above 16,270 and then if we do that has to get above that 21 period SMA as well Then moving on to the UK 100 Trying for the third time and maybe successfully this time. It's actually the top end of that range right now trying to break through 6,021 were above the 21 period SMA were a good bit away from the 55 period We had a crossover on the MACD quite a number of sessions ago. The other tentacles are relatively neutral 65 percent seems to marks clients are currently long Moving on to Japan 225 and this actually dropped 600 points to then sorry jumped 600 points Sold off 1,000 points then to increase 1,000 points again In fact, if I just stick this on let's just say 10 minutes. Let's see what it looks like Yeah, and you can just see that massive move to the upside massive huge sell-off and then massive move to the upside again A huge web sewing action Is not that much different to be honest. So lots and lots of volatility We did have a technical break above 17,689. It's retreated down below that just now It's above the 21 period SMA, but if we can close above 17 691 that would be an interesting technical move 84 percent of seems to mark clients are currently short. So they're anticipating further weakness So moving on to dollar yen. It's been in the 70 moving market for seeming what seems to be forever Again, look at the size of this candle is huge and just for fun. Let's go in the 10 minutes interval And you can see a massive move to the upside huge massive sell-off and then a move not quite Hitting these tips right here, but yeah, if you've been a long or short at dollar yen overnight That's been a really tough pair to trade Really, really tough. So we're trading above both moving averages at the moment The technicals are otherwise neutral longer term potential resistance 123 spot 60 If us GDP comes out quite strong today, this could be an interesting one to keep looking at 56 percent of seems to mark as clients are currently short Moving on to crude oil west texas You can just see that that that move we've gone from 27 up to 33 and change We're away from the session highs from yesterday but top into the range today other technicals relatively neutral We're trading between two ranges right now 69 percent of seems to clients are short anticipating further weakness But to be fair, you could get all the way up to 35 before you hit a potential resistance And if we do get a sell-off 31 50 could definitely be a potential support level to look out for and that also comes with a 21 period SMA Moving on to gold gold retreated again Just below 1110 dollars 74 percent of seems to market clients are currently long on this right now a lot of volatility even just today We have been much lower. We have been a little bit higher. So kind of a spinning top formation that we've got currently Gold's not really that interesting to me right now. The dollar ends way way more exciting Having a look at your dollar We're still potentially in the symmetrical triangle formation that we drew there yesterday So we don't want to really trade within the triangle. You want to wait for break on either side Seems to clients are off the same opinion 54 percent are currently long. The other technicals are neutral And then finishing up with GBP USD 84 percent of seems to market clients are short and you're going to see from these candles This could be kind of interesting to look at as well if the GDP figures come out better than expected in the us later on today Candle yesterday was decent a bullish engulfing pattern spinning top at the moment unable to break through the 21 period SMA And then if I just have a quick look at the economic calendar To see the timing. This is uk time right here You've got the eurozone cpi at 10 and then us GDP at 130 and finishing things up with the university of michigan sentiment index as well For the weekend, no chinese data to double checking and then monday. You do have some chinese data 1am You've got loads of pmi data from market personal income and PMI data from the us to start off your monday and a brand new month So guys best of luck with your trading and join me again on monday to find out what happened next Thank you very much and enjoy your weekend