 Hi, good morning and welcome to today's products in focus So as more disappointing data come out of the US yesterday with the latest ISM data coming out worse than expected and you have seen a bit the drop-off in the global markets on the back of the Greek stock market also opening up 23% down yesterday China again on the back foot and the sell-off in the commodity markets continuing on so the US 30 trading just pretty much bang on 17.561 which is a potential support level which the loads were reached in March this year and Certainly if we break below that you're looking at 17.361 other technicals are relatively neutral and we're trading below both moving averages now the With the latest data coming out of the US. There's now more question marks being raised about interest rates And I think that's a going to be the big question mark for the US 30 going forward If they're not going to raise rates sooner rather than later that could actually be seen as slightly Positive for stocks in the short term and that would cause the US dollar to Weakened we do have a deep ad people have a payrolls tomorrow We obviously have non-found payrolls on Friday and they are usually especially them from pearls of Friday That's going to be a big kind of catalyst for are they going to raise rates or not Certainly some of the data yet which great wage growth on Friday was very very disappointing on the lowest in 33 years and More disappointing macro data yesterday as well So there are question marks about that's a timber rate hike and it's going to be on off on off all them till September I'm pretty sure and that's currently progress saying so sometimes bad news can be good news and good news can be bad news When it comes to equities at the moment, so we'll see how that pans out. So looking at the UK 100 From a technical perspective, you've got three long-legged candles trying to tip through 6666 the failure to do so And we've got a sell-off this morning UK 100 not quite the session lows but not far off it obviously commodity right doesn't help crude oil as West Texas currently trading at 4550 it was a 4518 or they're on this morning And that's that's going to cause extra pressure because of all the mining stocks and the beat of the heavyweights of BHP and Royal Dutch Shell etc. They're preparing for long-term low prices on crude oil So that's not going to make things that much easier. So moving on to Japan to 5 Dollar yen 123 87 so it's come off a little bit. So people buy the yen sell in the US dollar We are turning above both moving averages on Japan to 5 off the session highs, which is not so good This looks a little bit weaker in the short term You've got a high lower high lower high still in the middle of two ranges 2868 potential resistance 20 0 87 potential support Moving on to on to dollar yen and dollar yen looks to be struggling to Maintain any sort of momentum closer is at 124 42 We are a little bit away from those dual moving averages So there could be potential for this to drift a little bit lower Towards here very much similar to what you saw in Japan to do five and the question is if it will bounce off Those moving averages are not which as you can see is slowly grinding higher So you might get a breakout either above 124 42 or below the moving averages And that's all going to be very much dependent on traders viewpoints on US rates So switching them on to West Texas crud you can just see we had a three and three percent Plus move yesterday again below 45 85 via brim trading below 50 dollars for the first time in a while and The next potential sport after 45 85 is 43 29 I think really if you've been more presenting about you're really looking at the tip of this candle here So probably closer to 42 dollars the next potential support So I guess the question is well 45 85 now, which was one support now at this potential resistance This could be an interesting pivot level dependent on your own views on where West Texas is going next So looking at gold Again all over the shop negative day yesterday it's bounced again higher today We're trying to wait for a close either below the bottom of this potential symmetrical triangle or above it And obviously the onus is a little bit more negative at the moment Obviously depends on the next raft of us a db private perils today I think will be more keenly watched than ever usually it's not a great precursor for non farm perils But I think traders are just really looking for any additional evidence as to The state of the US economy what the Fed is likely to do It does feel a lot like in the backdrop of everything else that's going on that a rate of height But the Fed just seems to be unrealistic But there's not historically it's not it's not impossible Based on what they've done before the Fed has raised rates just for the sake of raising rates before at a time where it wasn't really that That viable to do so but they just did it just to kind of put that out there that they are willing to do it and that they Have to do it at some point Obviously gives them a little bit more wiggle room should they need to cut it again in the future So it's not beyond the realms of possibility that they still will raise rates in September even in the backdrop of everything else That happened with a China slowdown and everything else But it's just worth bearing that in mind. I think it has been about 60 years since they've actually done that But they have historically done it So moving on to your dollar and cable to finish things off So your dollars completely flatlining now I think we're just waiting for a little bit more Macro data before we form one of you cable is not that much better. So there's not really anything to look at here We are trading still below both moving averages in the middle of two ranges everything else that we've normally talked about And then if you have a look at cable also late in the month 56 again, nothing really to talk about them So I come at data wise Nothing major out today Wednesday gives you a whole another raft of PMI data this time from HSPC at a market serve Then we do a retail sales from the Eurozone and any people have a perils trade balance in the US PMI ISM data from the US and Petroleum distillate stocks, which obviously be keenly watched for West Texas Last week it came in much lower than expected. So that actually gave a bit of a short-term boost for West Texas Let's see if that continues on actually, let's go ahead and Thursday. You've got German industrial orders Bank of England then PC minutes And that's pretty much your lot. So not a huge amount of economic data to be honest until you get to Friday where you have your The non-farm perils, but adp 5 perils tomorrow. Well, as I said, we'll be probably more likely More keenly watched than usual For clues as to what the Fed might do next So as ever guys keep your eyes in the chart forum make insights part of your leg going forward and join me again tomorrow to find out what happened next