07:20am    Just sent off my daily ‘Trading-Guidance’ email to subscribers and for the rest of the day I shall be helping the builders as they finally finish the 3-month renovations here.

Market Update:

A mixture of good and bad market news yesterday sent indices up by the end of the session with the U.S. S&P 500 now at the same record level it reached during the last week of April. The European Central Bank President Mario Draghi poured cold water on any idea that his money-printing exercise is coming to a premature end which was obviously good news for the European economy but across the Atlantic there was bad economic news in the from of monthly and Core PPI numbers which came in lower than expected and apparently a growing number of Fed members are resolutely against a rate rise in the next 6 months.

This sentiment spilled over to commodities and investors moved across to Gold as a better bet for their money which briefly pushed it above it’s short term resistance level of $1222 although some profit taking has occurred during the overnight Asian session. In the oil markets, OPEC have confirmed they are increasing production to maintain their market share and also U.S. shale producers are also expected to increase their own drilling towards the end of the year due to the recent price rise, so values took a hit yesterday with the U.S. WTI Crude falling nearly half a Dollar to $59:67 by the end of the trading session.