Today has several announcements coming out that could cause volatility in the market, not the least of which would be the German CPI numbers, the French CPI numbers, the PPI numbers coming out of the United States, and of course Initial Jobless Claims. With all this going on, we are paying attention to the following 3 assets:
USD/CAD
The USD/CAD pair continues to meander just above the 1.33 handle, an area that has been supportive in the past. Signs of support or a bounce could send call buyers back into this market, but a breakdown below the 1.3250 level would be extraordinarily bearish.
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DAX
The German index initially tried to rally, but rolled over to form a shooting star earlier in the day. However, there’s plenty of support below so it’s very likely the call buyers will be looking for buying opportunities below to continue the uptrend.
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Gold
Gold markets have rallied significantly, and have broken to a fresh, new high. Generally, this means that buyers will return for calls every time the market dips. This has been an extraordinarily bullish move, and should more than likely attract a lot of attention.
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