07:30am  Early start today and no trading as I am away for most of the day on a clay pigeon shoot. Back trading the markets tomorrow.

Market Update:

Some good news from China has boosted markets in Asia overnight, the latest export data released by their General Administration of Customs showed that exports increased by 11.5% year on year in March which was much greater that a Reuters survey that suggested a more modest 2.5%. The rising oil price is also helping equities but the U.S. WTI Crude price is coming upto a fairly well established $42.00 level so there maybe a bearish reaction so watch out for trading opportunities.

The U.S. markets ended Tuesday’s trading session generally bullish with the S&P-500 up nearly 1% (+19.73 points) after energy sector shares soared on expectations that the WTI Crude price would breach and stay above its 200-day moving average although it has retreated slightly this morning and is currently sitting at $41:24.

This general bullish sentiment has spilled over to the European market this morning and the Dax-30 and FTSE-100 both look to be starting the day ahead of yesterday’s close and this optimism in equities is having an expected effect on the Gold price which is extending its losses for a second day after reversing at the $1262 level – currently at $1248:60.