During the session on Monday, we don’t get much in the way of announcements, with perhaps the exception of the Halifax Housing Price Index out of the United Kingdom, and Canadian Housing Start. Because of this, this should be a relatively technical day.
WTI Crude Oil
The WTI Crude Oil market fell as low as $44 during the Friday session, but bounced significantly after the jobs number. Because of this, we may be seeing a bit of a snapback rally. However, one would have to suspect that the buyers remain tentative, while the sellers are above, especially near the $47 level.
DAX
The DAX initially fell during the day but found enough support at the €12,600 level on Friday to turn things around. Because of this, looks as if the market is ready to continue the uptrend, as we see strength in Germany. Buyers remain very aggressive.
USD/CAD
The US dollar has been rallying against the Canadian dollar for some time now, but seems to be running out of momentum. Because of this, the sellers may come back into the market, thereby driving price down to go look for support at lower levels. Alternately, if we break above the 1.38 level it’s possible that the momentum will pick up again to the upside.
