During the day on Thursday, we have several announcements that could move the market. We get the ECB Monetary Policy Meeting Accounts, the ADP Nonfarm Employment Change number, Unemployment Claims, and Crude Oil Inventories. Because of this, it’s very likely that the markets will be moving.
WTI Crude Oil
During the day on Thursday, we get the inventory numbers that can drastically move this market. Because of this, today could be a very interesting session. The $46 level is supportive, and as a result if we break down below there we could very well find the buyers getting very aggressive at this point in time.
USD/JPY
The USD/JPY pair fell a bit during the course of the day on Wednesday, testing the 100 region. This is an area of course that has quite a bit of psychological significance, and it’s very likely that the Bank of Japan should continue to try to keep this market higher. With this, the market will have to worry about intervention by the Japanese central bank, and as a result it’s very likely that call buyers will feel a little bit emboldened.
Silver continues to show promise
Silver markets continue to look like they are trying to break out to the upside but we did form a bit of a shooting star during the day on Wednesday. The shows yet again that perhaps a pullback is needed, but most certainly this is a very bullish chart, and sooner or later the call buyers will return as we see so much in the way of strength.
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