During the day on Wednesday, we don’t get much in the way of announcements, with perhaps the Crude Oil Inventories number and the German Final GDP numbers being the sole movers of the market. With that being the case, we don’t expect much in the way of massive moves.
WTI Crude Oil
The WTI Crude Oil market fell again during the day on Tuesday, but at this point in time look like it is trying to reach down towards the $46 level at the very least. Because of this, put buyers could be very encouraged, and if we get a poor inventory number, that could also add more fuel to the fire.
DAX
The German index got a bit of a boost during the day on Tuesday, as we continue to see support just below. Because of this, the market looks as if it is ready to try to grind higher, perhaps reaching towards the €10,800 level as it did recently. Call buyers should be encouraged, so it would not be a big surprise of they returned.
USD/JPY
The USD/JPY pair fell a bit during the day on Tuesday, but at this point in time the 100 level will of course be very important due to the fact that it is a large, round, psychologically significant number. Ultimately, some type of supportive candle or a bounce could get call buyers interested due to the fact that the Bank of Japan could be influential below the 100 handle.
Comments
Log in or sign up to join the conversation.