During the day on Thursday, we get the Bank of England interest rate announcement coming out, expected unchanged. Because of this, what would normally be a major event should be tame. However, we also get the UK services PMI number, and that the US ISM Nonmanufacturing PMI numbers.
WTI Crude Oil
The WTI Crude Oil markets fell again during the day on Wednesday, as we continue to grind lower. At this point in time, rallies will look suspicious and it’s possible that the buyers may look at them as potential opportunities. Certainly, the bullishness seems to have fallen apart.
USD/CAD
With the US seller falling in general, it is not a surprise to see that this market has slowed down a bit. However, there is significant support at the 1.33 level, and because of this, pullbacks could offer call buying opportunities for the bullish. Even though we’ve had a couple of negative sessions, we are still very much positive overall.
Gold
Gold markets rallied again during the day on Wednesday, but have a significant resistance barrier at the $1300 level. Because of this, the markets very likely will run into a little bit of put buying pressure. However, with the bullish move that we’ve seen recently would make sense to see call buyers look at pullbacks as potential value.
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