With a massive amount of economic announcements coming out during the session on Wednesday, this could be a rather important day. We believe that the United Kingdom will garner a lot of attention, as we have Trade balance GDP and Industrial Production numbers. Because of this, we feel that this could be a pivotal moment for the British pound and the FTSE.

All things being equal though, it still looks as if the US dollar continues to be favored against quite a few currencies out there. We are buyers of calls and puts that favor the US dollar, depending on which direction the market trades. With this, we look at the recent volatility as a bit of a gift, as the longer-term trend should stay in focus.

We believe that the petroleum markets may continue to rally a bit, but it will be volatile nonetheless. We are still very bearish on natural gas though, and believe that rallies are simply opportunities to buy puts at higher levels.

Precious metals still offer put buying opportunities on rallies as well, there’s just simply too much working against the value of both gold and silver, with a special emphasis placed upon silver as it has certainly been the worst of the 2 markets.