06:55am   Early start for me today as I am helping with a small building project I have up the road, so no trading for me today.

Update – Helping up the road until Thursday evening now.

Market Update:

The Bank of Japan’s decision last night to not provide any further monetary stimulus resulted in a lacklustre Asian session overnight with both the Hang Seng and Nikkei 225 posting small losses at the close a short while ago. The fall in crude oil prices does not help either as Iran is committing itself to a 1 million barrel a day increase on top of the 3 million it produces at the moment this news sent the U.S. WTI Crude price down 66 cents last night to $36:67 where it currently trading this morning.

Equity markets in Europe and the U.S. are expected to be quiet for a lot of the day ahead of the Fed’s interest rate decision at 18:00hrs UK time. It is widely expected that there will be no rise as this month’s FOMC 2-day meeting which ends today but traders will be listening to comments from Janet Yellen to see whether a June rise is on the cards. Trading volume will be low but expect some volatile moves this evening.