During the session on Thursday, we have a relatively quiet day as far as economic announcements are concerned, especially considering that it is the day before Nonfarm Payrolls out of the United States. With this in mind, we expect a lot of range bound trading.
USD/CAD
The USD/CAD pair fell slightly during the day on Wednesday, it now looks as if we are range bound between the 1.33 handle on the bottom, and the 1.34 level on the top. Expect a lot of back-and-forth type of trading in the meantime, has the volatility continues to be very tight.
Gold
Gold markets fell slightly during the day on Wednesday, as we continue to see volatility in this market. Currently, we are trading between the $1240 level on the bottom, and the $1260 level on the top. Because of this, expect a lot of back and forth type of trading in the short term.
DAX
The German index fell during the day on Wednesday, testing the €12,200 level. This is an area that’s been supportive recently, and because of this it looks as if call buyers continue to jump back into this market as pullbacks represent value. Longer-term, this is a market that is very much in an uptrend.
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