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During the session on Monday, the only thing that could move the markets potentially as far as economic announcements are concerned is the ISM Manufacturing PMI announcement. However, we believe that the poor jobs number on Friday will probably overshadow anything like that. With that being the case, we think that there are a few things you should look for.

1 – Precious metals should continue higher overall, and we look at pullbacks as potential buying opportunities. After all, if the Federal Reserve is nowhere near raising interest rates that means the gold and silver are both oversold at this point in time. Keep an eye on that, as it could be one of the better moving trades during the session. We like buying pullbacks via calls.

2 – The currency markets will probably be a mixed bag quite frankly. There are a lot of different things moving the currency markets at the moment, and while interest-rate expectations are a huge factor, there is also the concern about safety. Because of this, the US dollar may not selloff like you would anticipate. Yes, it will probably be somewhat soft, but ultimately it’s very likely that traders will also be looking for safety.

3 – All and all, we believe that the markets will probably continue with a lot of the same themes with perhaps the exception being the precious metals markets. It will be difficult to see what comes of all of this right away, and keep in mind that there is probably going to be a lot of volatility. Also of interest might be the reaction that the Asians, simply because they do not have the opportunity to react in real time. Keep an eye on what happens in the Nikkei, and you can get a general idea of what the risk appetite going to be throughout the rest of the day.