07:15am   Early start for me today as I am off to London at lunchtime to meet Max – any trades I have this morning will be detailed below.

Market Update:

The overnight Asian trading session ended fairly bullish after Chinese GDP figures increased in line with general expectations. This followed on from last night’s positive end to Tuesday’s U.S. trading session which was closed up with the S&P index of top 500 companies ending +0.62% and this general optimism has given this morning’s European markets a lift with most indices starting off well.

Crude oil markets have been given a boost as well on early reports that today’s U.S. Crude Inventories will show a marked decline in stocks and this news together with OPEC’s positive thoughts that production cuts this year are entirely achievable has meant that U.S. WTI Crude has now jumped over the $51 level and if the stock situation is confirmed later this afternoon we could see a rise over $52 by the end of today’s session.

Gold is subject to some profit taking this morning after reaching a 5-day high of $1264.50 yesterday and the recent surge in the price is attributed mainly to good demand from China where the local price has been around 2% higher in the past week than the global price.

 Trading Diary:

10:30am   Internet back on after some issues this morning – I entered a ‘long’ position on my Gold 15min chart about 10 minutes ago – it’s a trendFX strategy-3 set-up with a 15 pip stop loss.

11:55am  Getting ready to pack-up and get going for London so I have closed off my Gold position, it’s managed +48 pips.

Back in front of my charts tomorrow morning.