10:05am   Slightly later than usual Market Update this morning as I have had an early game of golf but back in my study now for some chart watching for the next few hours.

Market Update:

The overnight Asian session saw the Nikkei 225 index sell-off on Japanese Yen gaining ground as traders move away from the U.S. Dollar and falls in oil values hurt energy stocks. The fall in the U.S. Dollar reflects nervousness ahead of a two-day Federal Reserve meeting that starts in a few hours and will decide on the bank’s interest rate for the next month. There was a hold on rates last month due mainly to the UK Brexit vote but the global economic fall-out of Britain leaving the EU has not manifested so it is widely perceived that more Fed members will be more enthusiastic about raising rates.

European markets are falling slightly this morning after the first few hours of trading as the earning season gets underway although UK equities are bucking this trend and are up slightly. Crude oil prices are once again on a downward slope with U.S. WTI Crude experiencing another negative session on Monday by closing down by $1:15 to end the day at $43:03 and it is further lower this morning, currently at $42:88.

Gold is starting to benefit slightly from U.S. interest rate worries and a slowing in equity markets and is up this morning by just over $6 to $1321:77 after mainly bearish sentiment for the last two weeks.

Trading Diary:

12:05am   Nothing much happening on my collection of favourite charts so no trades to report  -  off out now for an early lunch.

15:55pm    Not been able to trade this afternoon so nothing to report from today’s session.  My next Trading Diary/Market Update will be on Thursday 28th July