07:40am  No trading for me this morning as I am playing golf but I will be at home this afternoon so I will check my charts then.

Market Update:

After market falls in Asian overnight, the European session is looking fairly bearish this morning. The Chinese purchasing manager’s survey (Caixin Services PMI) which came out early this morning showed a fall in confidence with the economy and the figure of 50.2 is a 17-month low. U.S. index futures are showing a fall throughout the night but economic announcements today will keep traders alert, there is a raft of PMI numbers out through the day plus FOMC minutes towards the end of the U.S. trading session.

The crude oil market is returning to its bearish trend as tensions between Saudi Arabia and Iran have failed to lift the price and traders are concentrating more on the continuing over production from both OPEC members and the U.S. Shale producers. WTI Crude is currently sitting at $35.73 and looking as though more falls are on the cards in the next few hours. The Gold price is enjoying a brief boost on shaky equity markets together with the problems in the Middle East plus the reported North Korean bomb experiments which has been widely condemned this morning – it rose just over $3.50 yesterday to $1077.30 and this morning it’s higher still at $1081.30.

Trading Diary:

22:05pm   I did not get back home until late afternoon and was too tired to start watching charts so no trades to report for today.