Thursday brings out the German Factory Orders, the Initial Jobless Claims coming out of America, and the ECB publishes its account of the Monetary Policy meeting. Because of this, we may get a little bit of volatility in the session but do not forget that the Friday session features the Nonfarm Payroll numbers, and that of course is going to keep this market somewhat under control today.
DAX
The German index initially fell during the day on Wednesday, but it appears that there is plenty of support below as we turn right back around. Call buyers continue to be enthusiastic every time we dip in this market.
Gold
After the absolute pummeling the gold got during the Tuesday session, we did try to rally at one point during the Wednesday session but failed. It does look like we will probably continue to see a little bit of negative pressure in this market, but it must be said that there is quite a bit of support extending all the way down to the $1200 handle. With this, it appears that the buyers are probably in control for the time being.
USD/JPY
The US dollar continues to gain against the Japanese yen, and as a result it looks like the call buyers are becoming more and more enthused. After bouncing off of the 100 level, it appears that we are trying to form a new upward trend. With the Bank of Japan supporting this pair, that could very well be the case.
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