With Services PMI numbers coming out of the United Kingdom and Germany during the day, we could get a bit of volatility during the European trading session. We get a handful of medium level announcements coming out in the United States, but quite frankly with the jobs number coming out on Friday, it’s probably going to be a relatively muted response to any of those announcements.
USD/CAD
The US dollar continues to grind higher against the Canadian dollar, and it appears that every time it pulls back, the call buyers are willing to get involved. Because of this, this is still a very bullish market.
WTI Crude Oil
The WTI Crude Oil market continues to grind lower, but we are approaching pretty significant support. Because of this, short-term rallies could happen, but it’s likely that the put buyers will return to take advantage of an opportunity to press a bearish that from higher levels.
Gold
Gold markets continue to hover just above the $1250 level, and there is a significant amount of support all the way down to the $1240 level. Because of this, there could be a bit of call buying underneath, but currently it would help if we can get some type of impulsive move higher before putting money to work.
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