07:25am  I shall be here in the study this morning catching up on emails and doing some chart watching so any trades I do have will be reported below.

Market Update:

Main news in the market is the decision by the U.S. Federal Reserve to keep their minimum lending rate as the record low of 0.50% with Fed chief Janet Yellen stating that she expects to raise rates at sometime this year which most traders take to mean December.  U.S. equity markets rallied on the decision with the tech-heavy Nasdaq index closed up 53.85 to post a record high of 55295.18 (+1%) and the wider S&P-500 rose 23.36 to 2163.12 (+1.1%)  This optimism spilled over to the overnight Asian market where most indices closed up although the Nikkei 225 was not trading due to the Autumnal Equinox Bank Holiday.

Crude oil markets rose yesterday on news that U.S. Crude Inventories fell last week after a surprising draw on stocks of just over 6.2 million barrels against an expectation of a rise of 3.4 million – the stock situation was at 504.60 million barrels.  WTI Crude rose $1:13 to end the session at $45:61 and is slightly higher this morning at $45:72.  Gold is rallying at the moment off the recent support at $1305 and rose to $1335:20 last night, up around $22 on the day.

Trading Diary:

08:10am    Nothing much to see to on my collection of favourite charts so I am off for a (15 mile) cycle ride.

10:05am   Just entered a ‘long’ trendFX strategy-3 position on my FTSE-100 chart, my stop loss is 18 pips.

11:15am   Out of my trade now for no better reason than a friend has just arrived and I do not want to be watching my screens for the next hour or so. The position has managed +36 pips.