The Monday session is relatively light as far as economic announcements are concerned, with German Business Climate being the most important number that comes out. Because of this, we believe it will be a relatively stable market with an eye on geopolitical risks more than anything else.

Gold

Gold markets continue to look bullish, as we rallied during the session on Friday. Call buyers are returning every time this market dips, and with all of the geopolitical concerns around the world, it makes sense that the market continues to rise.

USD/JPY

The US dollar pulled back slightly during the day on Friday, as we continue to consolidate. However, I believe that there is massive support near the 108 level, so it’s likely that the put buyers only have control for short amount of time. A break above the 110 level sends the market looking for the 112-level given enough time.

FTSE 100

The FTSE 100 rallied a bit during the session on Friday as it now looks likely that the 7080 handle is going to hold support. A break above the 7150 level should send the call buyers back into the market and aiming for the 7240 handle.