 Hi good morning and welcome to today's products in focus. So more kind of the stabilizing factors as the Chinese Yuan has been allowed to depreciate per 2% a second day, opening up the idea that there could be some sort of currency war in the APEC region where other countries which already have quite undervalued currency are now feeling threatened by China and because obviously they're devaluing their currency to make their exports more attractive to other countries. So you've got the likes of like Malaysia and Thailand and Indonesia they're all looking now to think well we've got to be competitive as well so slight fears over a global impact as countries begin to escalate this potential currency war because exactly what's going on here where the Chinese are trying to artificially make themselves more competitive after a period of trying to add lots of gains and capital inflows into the country by having Yuan be able to appreciate you're probably gonna see a lot of money flow out of China now if the Yuan is going to be looking to sell off more. It's done about 4% now from Mondays clothes with many commentators saying that this is probably only just the beginning of a slightly larger move and it might take a little while before the Yuan will stabilize. So what we're saying here is the U.S. they're now trading below 17.361 to be fair as many commodities that have been hit especially crude oil which now trading below $43 and it just makes the whole prospect of interest rate a hike something else just seems to be a little bit tougher. All the regions there are artificially devaluing their currencies and it just makes it harder again to think about how the U.S. will raise rates to make themselves more uncompetitive as well but nevertheless what we are seeing there is the next potential support at 17.034. So then jumping on to the UK 100 you can just see the size of that move as UK miners are exceptionally hard. We have done about 3%. BHP down, copper's at 6.5 year lows now as they know that the Yuan depreciates even further that means I guess the idea being is that China won't be able to buy as much goods with the same amount of money so that has a big impact right across the whole stream of asset classes and what we're seeing there is the UK 100 now trading below potential support 65.89 below both moving averages and now we're looking at 64.15 as next potential support and we're at the bottom of the range today with the Germany 30 down already 1.8% falling on from yesterday 3% drop and the UK 100 already down 1.4% is looking to be quite a negative start to the day. Looking at Japan to be 5 okay so the dollar yen was at 1.2520 now 1.2470 is a dollar just kind of loses a lot of momentum altogether and you can see that that's what you're and people buying Japanese yen as a safe haven gold shooting up because of the potential lack of interest rate of the big question marks over US interest rates again and that's having a negative effect in Japan to do five bearish engulfing pattern firmly in place today below both moving averages 20 87 is the next potential support and it feels to be that kind of global equity markets are accelerating to the downside at the moment while the market digests this Chinese currency the valuation for a second day in a row so looking at dollar yen and not quite a bearish engulfing pattern but we are firm at the bottom of today's range 1.2442 is next potential support then that might also coincide with these two dual moving averages as well so moving on to West Texas cruise trading below 43 30 iron up $42 there's really not a lot of positive fundamentals to look at with West Texas at the moment especially with China the way that it is just now and the fear of a massive slowdown more data I think factory orders out of Japan out of China this morning sorry was one of it came in at six the forecast 6.6 this is one of the lowest industrial production figures out of China for a long long time as well so there's really a pronounced slowdown taking place right now and you can see goals all over the shop again a very volatile session yesterday pushing hard just now 1137 and this is question marks over and straight hikes when other parts of the world are engaging and developing the currencies without cutting rates it's almost a bit redundant for the rest of age rates so soon as September at this stage and see retentals that you did about three and a half percent now giving your flavor as to how hard this money was getting hit so that was that was gold so finishing up with your dollar and GBP USD so your dollar accelerating one spot 11 trading actually up to that 55 pure SMA and above 21 pure SMA Matt these close across in the zero line other technicals are relatively neutral this is the best momentum that your dollar has had for some time now looking at GBP USD one spot 56 as ever the moving averages are flattening out same with the MACD and everything else and just gives you a bit of a flavor about where we are until we get above 156 second part to get that excited by cable so academic data wise we do have employment claims in the UK industrial production for the Eurozone and of course our crude oil inventory data and then going on to Wednesday it's got a lot more stuff there you got your CPI and US retail sales that'll be a big one for tomorrow as well and that can round up your Thursday and I think we already covered Friday yesterday but GDP from Germany CPI from the Eurozone and PPI from the US so quite a lot of the interest rate sense to the figures coming out of the US and people be watching that quite closely to see how strongly actually are in the backdrop of what's happening elsewhere in the world so as ever guys keep your eyes on the chart forum make insights part your leg going forward and join me again tomorrow to find out what happened next