 Hi, good morning, and welcome to the day's products and focus so most news last night is actually over as shrinking PMI figures coming out of China came in at 48.2 versus 49.7 and even below 50s of contraction So this is just the latest in the long line of quite disappointing data coming out of China That's actually impacting most other global markets as well So looking at the US 30 you can see that we've actually had almost There's our fourth day of losses were back down to 177 47 which is a potential support level on the back more disappointing earnings coming to the US I mean the US dollar still gaining strength, which Many commentators are saying is obviously damaging the export potential of many US firms And obviously when they repatriate international money back to the US That results in some some lower figures and in fact a lot of the earnings that have come out a lot People said that there's been some very interesting accounting practices attached to taxation Like basically putting a tax rate at the lowest possible rate for all these earnings And that's why I had likes kind of coca-cola and a few of the other big firms still coming out with With a decent earnings per share But I think the reality is is that some of these firms are just not hitting the targets as much as The traders would like so where we are with the UK 100 Summer picture to us 30 but a little bit weaker gonna be born trading near historic highs We've had advancing negative candles for down again to be Entity wise we're just kind of bouncing off an entity low But this can look vulnerable at the moment 6589 is the next potential support We've almost got a negative cross on the MACD and the fact we do have a negative cross on the stall stochastic there as well We're moving on to Japan China's impact of Japan stuck in next a little bit dollar yen is actually not doing a huge amount even though Dollar's been gaining a strength Bank of Japan governor corrodas basically poo-pooed any concept of additional QE Which is strengthening the yen ever so slightly and obviously in terms of uncertainty as well people are buying the yen Do not the gold right now is just not the flavor of the month at all So people aren't buying gold to the hedge against uncertainties buying Japanese yen and what we're seeing is the Japan 225 just grind down that little bit lower with 20,000 87 still be no longer term potential support. We've been down there before We could get extra additional support from these two moving averages as well We've almost got a negative crossover in the MACD and we're certainly overbought on the slow stochastic So a lot of technical signals indicating that Japan 225 could be under pressure So moving on to dollar yen then more like in the consolidating close below 124 spot 42 It's been sideways last couple days as well looking at the day charts And that's not to say just because they're not going to do QE in Japan that dollar can't gain that momentum To bust up through there, but it's been trying the last number of sessions to to get up through there without much success Moving on to West Texas crude still moving lower global demand fears China slowdown etc etc stronger US dollar Iranian nuclear deal take your pick for all these different factors Now that we're trading below 49 you probably could be looking at the tip of this candle down here close to about 45 Spot 80 has been your next potential support then fall by that you're looking at a move back the sub move back down towards 40 and change the maybe 43 spot 30 So then moving on to gold gold is quite close to reaching the tip of this low point that we've reached on the many flash Crash on Monday. We're actually away from the session lows But if you look at these long-legged candles pressure is certainly there We are massively oversold now on gold, but the fundamentals are stamping down on here longer-term potential support is at 1046 but we do we will have short-term potential support at the tip of Monday's candle Which is round about 1073. So in fact, I'm just gonna get my drawing tool out here there just now And that's kind of roughly where we are and we'll come back to that in the next couple of sessions Probably next week and if you finish up with your dollar and GBP USD, so I think longer-term your dollar The trend is still looking quite quite negative, but it's managed to rebound the last couple sessions yesterday was surprisingly strong Could be cat but that fifth 21 period SMA Which be quite close to one spot 11, which is longer-term potential resistance longer-term potential support is that one spot 07 86 Followed by one spot 05 24 we do have a bullish cross on the Mac D though that could add a little bit of extra momentum to the upside And we're quite close to being oversold in the soul stochastic even though we are ticking up a little bit just now But yet the signal to the buy has not kind of really entered the market yet But we've still still looks to be in the potential downtrend at the moment Only if we break above one spot 11 do things maybe change because then we'd be above both moving averages as well So moving on to GBP USD Very negative day as to the bearish engulfing pattern lower again today trading blow both moving averages one spot That's 424 is a potential support All the technicals are relatively neutral Mac D's is crossing the zero line So there certainly looks to be pressure on on cable as well And that candle yesterday is it is not too friendly looking Longly the candle at the top so it was positive got pushed right back down again And they're close towards the end of it's as daily range to finish a day So not not so great. So we go back on the Thursday, but we had retail sales that came out way worse than expected That's probably the reason why If you have a look at the economic data from today as I mentioned PMI from China is in the story that a number of traders are talking about at the moment You've got German PMI Eurozone PMI due later on today from market, and then if we fast-forward on to Monday, we've got The business survey I full business expectations index and durable goods from the US and that one's going to be an important one People who trading cable your dollar and if you're treating anything that sensitive to US rates because people will be looking at that again for For clues as to the strength of the US economy So as ever guys keep your eye on the chart forum Make insights part of that going forward and join me again tomorrow. Not tomorrow on Monday to find out what the next