08:25am  Late market update as I’ve had a busy morning – friends staying for a few days and a WTI Crude Oil trade just entered (details below)

Away tomorrow so back trading on Friday

Market Update:

Traders concentration at the moment is angling towards the Fed meeting minutes later tonight so markets could be quieter than usual today ahead of the announcement. Investors are keen to see the overall sentiment towards an interest rate rise at the last FOMC meeting and this will give hints regarding the timing for a possible rise in April.

Encouraging data from China overnight together with some rise in Crude Oil values has given a slight boost to equity markets, although Asian markets still appear to be in the doldrums at the moment. European indices are mixed this morning with gains in London but the German Dax-30 index under some pressure in the first hour of trading.  U.S. Crude Oil Inventory numbers out later today will give more momentum to the WTI and Brent Crude charts and also affect equity markets around the same time as the Fed minutes announcement – a busy trading afternoon ahead ?

Trading Diary:

08:30am   As detailed above, I am in an early trade this morning, it’s a ‘long’ trendFX strategy-1 position on my WTI Crude 30min chart. My stop loss is 15 pips and I do not envisage it being a lengthy trade as there is the U.S. oil stock numbers out later today.

10:10am   The WTI price has risen quite well but now seems to be consolidating so I am now out of my position at +21 pips. Out for cycle ride now, I delayed it as I was watching this trade more carefully than I usually do.