06:55am   Early start for me today as I’ve much to do – but no time for trading unfortunately for the next two days, I shall be back here on Wednesday morning.

Market Update:

The markets this week are going to be all about the U.S. Federal Reserve’s Interest Rate meeting on Thursday and opinion is gradually moving towards a 50/50 after main consensus during the last month has been for no move from the current 0.5%.  The start of the week in Asia has seen equities fall even though the U.S. ended last week optimistically after consumer sentiment dropped giving traders added reasons for an interest rate hold, the leading Dow Jones 30 index ended Friday 103 points ahead at 16,433 and the wider S&P index of the leading 500 companies ended 0.45% up at 1,961 although futures trading overnight has seen a drop to the current 1,958 level. Here in Europe, equities are expected to start broadly the same as last week’s close and with no big economic news out today there will be little to move them in one direction or the other.

A continuing high level of crude oil supplies in the U.S. caused further falls on Friday, WTI Crude ended almost a Dollar down by the end of the session at $44.75 with UK Brent Crude down a similiar amount at the end of the week and it’s still experiencing a bearish sentiment after the overnight Asian session and is heading towards the near-term support at $46:75.