09:05am   Back in the UK now but no trading this week as I am off again tonight for 6-day holiday, back in front of my screens next Tuesday.

Market Update:

Asian markets overnight closed mainly down after a lacklustre low-volume U.S. trading session on Monday where traders had nothing to excite them and there is a growing concern that the Fed is getting ready to raise their minimum interest rate at their June meeting. This negative sentiment spilled over to the European open and hour ago although most indices have now recovered and are forging ahead – thr German Dax-30 is currently ahead by over 40 pips on its opening level.

Crude oil price are starting to slow once again on news that Iran is still insistent on increasing their production to pre-sanction levels, U.S. WTI Crude is coming off the $49:25 high of last week and currently trading around the $47:75 level although the daily chart is suggesting further moves up during the rest of this week. Although equity markets are not reaching previous highs, the Gold price continues to fall and significantly lower than the £1303 high it posted at the beginning of May, it is standing at $1244:25 at the moment and still looks fairly bearish.