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EUR/USD

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The euro rallied rather significantly during the course of the trading week, as it readied to threaten the 1.05 level. The market was a bit oversold, so this bounce was not too much of a surprise to see.

There are still questions to be asked about interest rate differentials, and I think this space will start to see signs of exhaustion to sell on if given enough time. I don’t have any interest in buying the euro, at least not until I see it break above the 1.06 level on a daily close.

USD/CAD

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The US dollar fell a bit against the Canadian dollar during the trading week. This pair has seen a large amount of movement due to issues and policy regarding the Canadian government, and I think this will likely continue to be a source of volatility.

That being said, I like the idea of buying this pair on dips, as it offers value in the US dollar, which is still fundamentally stronger than most other currencies -- and it is certainly stronger than the Canadian dollar.

USD/JPY

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The US dollar fell slightly against the Japanese yen over the course of the trading week. but there has been some support to be seen at the JPY155 level. This is an area that has seen significant movement in the past.

The fact that the Bank of Japan has come and gone gives me a little bit more confidence in the potential upside for this currency pair, although I do think the pair will continue to experience some sideways movement.

A break above the JPY158 level could see the currency pair push higher, perhaps even to the JPY160 level. On the other hand, a break down below the JPY155 level could possibly cause the pair to drop even further.

Nasdaq 100

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The Nasdaq 100 appeared rather bullish during the course of the week, especially with expectations of the index reaching an all-time high. I don’t necessarily think such a move will occur in the coming days, though short-term pullbacks could continue to attract inflows. The Nasdaq 100 will likely continue to benefit from the pro-business Trump administration, as well as simple momentum.

DAX

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The German index continued to rip to the upside during the week, as it towered well above the EUR21,000 level. The market looked like it could use some type of pullback. Such a move could serve as a potential buying opportunity. I believe shorting the index at this point in time would be tantamount to throwing money out the window.

The EUR20,000 level should end up being a major floor in the market, as it is a large, round, psychologically significant figure, as well as an area that I think a lot of people will be watching closely.

Silver

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Silver experienced a lot of noise during the week, but it did manage to eke out some gains as it bounced between the $30 level at the bottom and the $31 level at the top.

A break above the $31 level would signal a potential rally in the gray metal. At this point in time, I am much more comfortable owning gold that I am silver, as the gray metal still has to worry about tariffs and sluggish economic momentum.

Crude Oil

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Crude oil fell during the course of the week, as it appeared to be range-bound. I have no interest in shorting this market. I think, if given enough time, crude oil could break above the $70.50 level, which would signal the potential for further upside. With central banks around the world cutting rates and economic growth in the United States looking rather robust, it does make sense that oil would continue to go higher.

Gold

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Gold rallied rather significantly during the course of the week. It now looks set to break out to a new all-time high. A break through the $2800 level could spark a move to the $3000 mark over the longer-term. I have no interest in shorting this market, and I recognize that any pullback could be thought of as a potential buying opportunity.

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