 Hi, good morning, and welcome to today's products and focus so having a quick look at the equity markets We had a failed rally again last night unable to break above that 21 period SMA And we're just briefly above 17.561, which is a support level that we've had and play for quite some time So that kind of gives an idea of the picture We've been in a sideways moving market for quite a while up until July this year Plunge in the Dow, and then we've had this slow move to the upside doesn't look like we're like we're gonna get this This kind of Santa Claus rally that we're used to and the backdrop of incredibly low crude oil prices, which doesn't show a lot of confidence in Future demand from people aren't buying at these low levels. You've had the Chinese Yuan depreciate to a four and a half year low Which also shows a lack of confidence in that in that currency Some people are saying that the Chinese government are allowing it since it joined that basket of currencies from the IMF For it to get down that little bit lower But there's a lot of strange things happening in China as well regarding a number of high-level financial executives I've all gone missing which a large number of commentators are seeing as a government crackdown on unscrupulous kind of trading practices and a lot of these people can't be reached so that's out of a couple of little curve balls Into the markets just before next week's FOMC Which is very widely expected to come with it the first US rate hike in almost a decade Which could have quite big impacts on money flows out of some major parts of the world As people start buying the US dollar because it's got a higher yield And you also have to think about the huge debt piles that are all denominated in US dollars The impact that a higher rate is going to have on the repayment of those debts So this is currently currently where we sit on the US 30. That's a little bit of background as to what's Kind of the themes in the market right now So looking at the UK 100 per UK 100 is having a tough time mainly due to the Sell-off in the commodity markets and even though the dollar has kind of wobbled a little bit over the last couple of days I mean we haven't seen a massive turnaround in copper or Or crude and in fact even even gold's not keeping its head above 1075 right now it's down at 1070 so you can see where the candles here there is some sort of semblance of support around about 6073 on the UK 100 it ticked a little bit below there on Wednesday Stopped deadness tracks on there yesterday. It's seven summer picture today series of lower highs on these candles It kind of gives you an idea what might happen next So then looking in Japan 2 to 5 we've had a rebound a slight rebound as the as the yen lost a little bit of strength Yesterday as the dollar began to kind of try and wrestle control slightly Euro dollars down a little bit lower GBP USD is It's okay. We'll come back to that in a second But dollar yen is at 12198. It was down at 121 10 or their own So that slight bounce may be giving Japan to do five. It's a little bit of leeway right there But from a technical perspective is certainly looking pressured. So this is dollar yen. We're actually off the session highs again So we almost were getting a decent rally, but we've been pushed back down just below 121 spot 87 which again is a level that's been in play since well almost this time last year So that gives you a flavor. What's going on from a technical analysis perspective the fact that we've already We've we've had a technical breakout or what appears to be a technical breakout higher, but now he's been pushed right back down again That's perhaps indicative of the of the uphill struggle that dole yen's gonna have in the short term But you know, you have to wait until until the 16th on Wednesday to get the FMC statement So let's have a look at crude oil now almost almost at fresh lows again $35.30 cents as the next potential support and you know, this is from seven years ago So we're moving from seven years ago, but let's have a look. You actually have to go on to a weekly chart Okay, it must be quite a while ago from 2008 actually That is that is seven years ago So that gives you an idea of where we where we are like this is a height of the financial crisis And that's where crude oil is right now. That's completely crazy to think that The the heights of 2008 crude oil was was almost at $150 a barrel Now to say that we're at $36 is as incredible. The thing is where does crude oil go once it breaks $35? That's a very good question. So let me just go into my monthly chart If we go back 2002 We can go back 26 years Right, I actually have to get my drawing tool out here because it's so far so long ago 27 24 17 Wow Quite crazy to think that in 1998 1999 Gulf war times that we were Down here $10 Crazy, okay So that that gives you a better idea of where we where we have been before I'm just gonna keep this level on here. I'll take a closer level Okay, let's just take one of these points down here and It will be worth you guys Maybe have a look at some of these levels because they're quite they're quite impressive But that's where we could go so for everybody who's buying up Crude oil right now thing and well long term has got it's got to turn back It might well do but just think of the fact that has been a lot lower before and not to lose sight of that So where we are with gold is we're quite close to 1,072 Lots of volatility around this point has been as tried to move higher tried to break lower But it seems to really quite like this level of 1,072. So and the absence of much economic data We do have UK US retail sales today and they Consumer sentiment University of Michigan sentiment index due today So that might be a little bit of a kickstart But I think almost everybody now is gonna be waiting for Wednesday's so FOMC. That's the big one Your dollar you can see we had a bit reversal yesterday But might be just about a profit-taking because we were accelerating a lot to the upside close to one spot 1090 Next potential support one spot 08 19 So GBP USD Retracement potentially back down to one spot 51 10 you can see we actually reached that point yesterday still had a negative day We're still moving lower this morning And but we're quite close to that 21 period SMA as well So still on the downtrends one spot 51 10 followed by one spot 50 27 Could be could be levels there that are worth having a quick look at so that gives you a bit of an idea of Where we are with cable so economic data wise today we've already covered Actually very important Saturday comes with it a whole host of Chinese data again retail sales industrial production and urban investment That's the weekend so do consider that when you're holding your positions over overnight Don't forget about those and then Monday whole host of Japanese data business sentiment survey information and Tuesday You've got CPI and the ZDW business report that's big for Germany and Also CPI for the US as well So guys as ever keep your on the chart forum make insights part of your layout going forward and join me again on Monday to find out What happened next?