We have a handful of announcements coming out today that could move the markets, such as Retail Sales in the European Union and Factory Orders in the United States. With that in mind, we look at the following assets:
Gold
Gold markets continue to tread water below the $1250 level, and are currently stuck in a bit of the range. On pullbacks, call buyers will more than likely be interested in the $1240 level. Eventually, the bullish traders must break above the $1260 level to make any serious moves.
DAX
The German index continues to reach higher, but is starting to run into a bit of exhaustion. That’s not a huge surprise though, this is a market that has gotten a bit ahead of itself. Short-term put buying may present itself, but ultimately call buyers still have the upper hand on pullbacks.
USD/CAD
The US dollar rose against the Canadian dollar, bouncing off the 1.33 level. This area seems to be very interesting to call buyers, just as put buyers seem to be attracted to the 1.34 handle. Ultimately, this pair tends to be influenced by oil, moving in an inverse relationship.
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