07:00am   Another early start and day up in Norfolk for me so yet again no trading today.

A busy day on the markets yesterday as U.S. GDP figures came in at a disappointing 0.2% and core inflation dropped down to 0.9% from the previous month’s 1.1% giving the Fed solid reasons to delay the expected June interest rate rise – commentators are now split between September and December.  Last night’s FOMC statement was a conspicuous non-event with no real clues as to how the committee are swinging with regard to a definite date to raise the minimum bank rate.

The U.S. Dollar’s strength over the past few months that’s been caused by rumours of a rate hike evaporated yesterday and many currency crosses including the EUR/USD staged a good reversal.  A strong Dollar has been hurting domestic exporters which in turn does no good for their economy so the slight weakening yesterday will give a boost to many of the larger S&P 500 companies, so does this mean the U.S. indices are once again going to reach for record highs once again ? My daily charts of both the Dow Jones 30 and S&P 500 are showing themselves to be the most oversold they have been for nearly a month, so the odds are for an imminent rise in the next 5 days.

On the Crude Oil market, U.S. WTI Crude broke up above its $58:35 resistance level that can trace it’s roots back to the middle of last December although the weekly charts does show that there maybe some profit-taking arriving soon. Here in the UK, Brent Crude is well above its recent $62:65 resistance area with a move upwards to $67:50 looking increasingly likely.

Market Close Wednesday 29th April 2015:   Dow Jones 30  -74.61 @ 18,035.53  S&P  500  -7.91 @ 2,106.85  NASDAQ  -27.11 @ 4,488.15  FTSE 100  -84.25 @ 6,946.28  UK AIM  -1.45 @ 752.40  DAX 30  -378.94 @ 11,432.72  CAC 40  -133.99 @ 5,039.39  IBEX   -228.80 @ 11,378.90   Nikkei 225 (Today)  -482.89 @ 19,576.06  Hang Seng (currently)  -264.05 @ 28,136.29