During the day on Wednesday, we get a handful of announcements, including the Canadian interest-rate, the Crude Oil Inventories announcement, and of course the employment numbers coming out of Australia. With that being the case, we are looking at the following 3 assets:
AUD/USD
The AUD/USD pair rose during the course of the session on Tuesday, breaking above the 0.76 handle. It already looks as if it is trying to break out to a fresh new high, so having said that it may not take much out of the employment number to excite call buyers. On top of that, gold markets rallying can have a positive effect on the AUD.
WTI Crude Oil
The WTI Crude Oil market rallied quite a bit during the day on Tuesday initially, but as you can see struggled at the $46 level. This was an area that was the bottom of the descending triangle that broke, so having said that it’s possible that put buyers may get involved. If the inventories number comes out higher than anticipated, that should be bearish.
USD/JPY
The USD/JPY pair rose during the course of the session on Tuesday, continuing a significant rally above the 104 level. At this point in time, the next major resistance barrier is the 106 handle. A pullback at this point in time will more than likely find support as people have begun to be concerned about the Bank of Japan adding more stimulus to the marketplace, as they have been very loud. At this point in time, it appears the call buyers are in charge.
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