09:10am   Lazy start for me this morning but I should be around the house for most of the day so any trades I have will be reported below.

Market Update:

Main news at the moment on the markets is Friday’s U.S. jobs numbers which came in below expectations at 38,000 although commentators did point out that the Verizon workers strike did skew the numbers slightly. So how does these figures affect the market ? Less jobs created means the U.S. economy is not as strong as the Fed has been hinting so they could delay their interest rate rise although you could argue that more people in jobs in April means that the economy could cope with a small rate rise – but there is no need to postulate as Federal Reserve Chairman Janet Yellen is speaking tonight in Philadelphia so traders will pick apart her speech to find subtle clues as to the Fed’s next decision. Expect a quiet start to the week’s trading in the U.S. and then some volatility while she talks although the consensus does seem to favour a quarter percent rise in July after the UK has voted on their EU conundrum.

Other sharp moves after Friday’s Non Farm Payrolls included the Gold chart which had a large bullish reaction moments after the jobs report came out, it moved over $27 in under an hour as uncertainty hit equities. Most currencies also rallied against the U.S. Dollar on Friday although the pound has slipped back slightly this morning.

Trading Diary:

09:55am    As usual on a Monday morning, the markets are still sorting themselves out so not much to report in the way of trading opportunities so I am off to do some errands in town.

11:50am    Just got back home and I have missed nothing on my charts so far today – and it is just too sunny outside to do any more chart watching indoors so that’s it for me today as far as trading is concerned – back  here early tomorrow morning.