During the day on Monday, we get very little in the way of announcements that move the market with the exception of the import, export, and trade balance numbers coming out of China. This gives us a “30,000-foot view” of how the world’s economy is functioning, but quite frankly with Friday releasing a larger than anticipated US jobs number, it’s possible the markets may be fairly quiet.
DAX
The DAX is very interesting at the moment as we have seen quite a bit of bullish pressure over the last couple of sessions, and we are now approaching the €10,400 level. There was a shooting star last week that tested the €10,500 level, so we can break above that it’s very likely that call buyers will be very encouraged buying a break above that level.
Gold
Gold markets fell significantly during the day on Friday as the US dollar rallied, due to the better than anticipated jobs number. However, there is a significant amount of support between the $1300 level on the bottom and the $1320 level above there. With this, it’s very likely that call buyers may be interested in getting involved in this market again after this slight pullback.
USD/CAD
The USD/CAD pair rose during the course of the day on Friday, as the US jobs number was stronger than anticipated, while simultaneously the Canadians actually lost jobs. The 1.30 level offered supportive action as anticipated, and it now looks as if the call buyers are very encouraged in this market.
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