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During the session on Friday, we had a lot of volatility as you would expect. The Nonfarm Payroll numbers coming out of America always tends move the markets a back-and-forth manner, but quite often don’t really change the outlook. This may have been the case again during Friday, as although the top line number missed, the reality is there were some good parts of the announcement. With this, it probably still has people confused as to whether or not the Federal Reserve will raise interest rates during the month of September.

1 – Looking at the EUR/USD pair, it’s very likely that traders are going to have to take a couple of sessions to figure out which direction they expect the US dollar to go. With this, we would anticipate that most of the decent trading opportunities will be the US dollar against other currencies. (With the US dollar being favored.) We do not like being bothered with the EUR/USD pair at the moment, it seems far too volatile.

2 – Precious metals look a bit mixed at the moment, but in general we still like buying puts. This is especially true when it comes to silver, as although the US dollar should strengthen a bit, the reality is that there isn’t enough industrial demand for the metal to elevate prices at the moment.

3 – Oil markets were fairly calm during the session, and surprisingly so. With this, we feel that there is a significant amount of buying pressure underneath the WTI Crude Oil market, and we are buyers of calls on short-term pullbacks and show signs of either bouncing or support.