With only a handful of announcements coming out during the day on Monday, and those been minor at best, it’s very likely that the markets will be fairly calm. We do get treasury auctions coming out of the United States as well as Australian Business Confidence numbers, and then finally Chinese Industrial Production. In the end though, these probably will move the markets much.

Gold

Gold markets fell a bit during the day for yet another session, but at the end of the day it still looks as if we are in an uptrend longer term, so one would have to believe that sooner or later the call buyers will return to take advantage of perceived value.

DAX

The German index fell a bit during the day, but continues to see support near the €10,600 level. By doing so, we ended up forming a bit of a hammer like candle, and at the end of the session it looks as if we are still forming an ascending triangle. If we can break above the €10,800 level, the momentum really will pick up at that point in time. At this point though, looks like the call buyers are trying to make a move.

USD/CAD

The United States dollar rose against the Canadian dollar, and as a result it looks as if we’re going to try to reach towards the top of the consolidation area that we have been in for some time. That is roughly the 1.32 handle, and as a result it looks as if the call buyers are starting to make a statement yet again.