During the session on Wednesday, we get a couple of announcements that we will be watching, including Crude Oil Inventories, and the RBNZ cap rate Statement.
WTI Crude Oil
Crude oil markets tried to rally on Tuesday, but found a bit of bearish pressure just above. With the Crude Oil Inventories number coming out today, there could be quite a bit of volatility. It currently looks as if the put buyers are in control longer-term though.
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USD/CHF
The US dollar tried to rally initially during the day on Tuesday, but found the parity level to be too much to overcome. It now looks as if the put buyers are in control. If we can break down below the 0.9940 level, it would mark a fresh low and could encourage more put buying.
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FTSE 100
The FTSE tried to rally initially during the Tuesday session but continues to find put buying above. At this point, looks as if the market may need to pull back slightly to build up enough momentum to continue going higher. Pullbacks should represent value that call buyers will be interested in.
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