During the day on Thursday, we get quite a few announcements that could move the markets. We get German Retail Sales, the German unemployment figures, on the final GDP coming out of the UK, CPI coming-out of the European Union, and then of course unemployment claims coming out of America. The ECB Monetary Policy Meeting notes come out as well, which could be very interesting.
DAX
The DAX rallied a bit during the course of the day on Wednesday, but started to run into a little bit of trouble above the 9600 level. With this, we very well could see the put buyers return to the market as we have got a little bit of a relief rally.
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USD/CAD
This market has been range bound for several days, and as a result it looks like we are bouncing essentially between the 1.27 level on the bottom, and the 1.31 level on the top. If this is the case, it should continue to attract a lot of back-and-forth type of trading from those ranges. Oil markets will of course have an effect on the Canadian dollar itself, but at this point in time it looks like we are simply ready to bounce around.
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Silver
Now that the silver markets have rallied and shot through the $18 level, the market looks as if we are going to continue to go higher as call buyers have certainly step in and push the envelope. At this point in time, it’s very likely that call buyers will be interested in short-term pullbacks as silver looks as if it is breaking out.
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GBP/USD: Finds support.
The GBP/USD after the decline found support at 1.3200. It seems that call buyers interested for the market but also this area might be attractive for buyers of put options.
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FTSE100: Bullish.
The Index advanced during the session on Wednesday and is trading a bit below the resistance area of 6400.00. It would not be surprising at this level to be attractive for call buyers.
Otherwise, a move below the support area of 6000.00, might offer opportunities to put buyers.
