Stocks...
The Indices should remain a range bound affair until Thursday.
Buy breaks in the Spu’s to 2080 with a couple of handle stop.
Bonds...
30 Yr….is caught between 155.24 resistance and 154.00 closing support.
I’d be patient for new direction to be resolved late week.
FX…
Aussie crosses…
AUD/NZD…109.24 is trend support. A close over 110 is needed to regain upside momentum.
EUR/AUD…this stays offered under 146.60. Short term all the Aussie crosses are a little stretched.
AUD/JPY…89.96 is the first fib retrace resistance. A couple of closes through this level is needed for another move.
Commodities…
Oil…needs to sustain over 42.40 to rally anywhere.
Gold…1072.40-1075 will be pivotal for the rest of the month.
General Comments or Valuable Insight.
The rest of the week will be a Currency & Gold trade.The Equity Indices are higher on the month, however I doubt you’ll see much appetite from the hedge fund community to push positions until they see the whites of Draghi’s eyes Thursday A.M.The only question remains is how high the Euro & Swiss can rally on short covering going into Thursday A.M.
You’d think you’d see a little given the oversold nature of the Euro and many of the Aussie crosses.
AUD/NZD
EUR/AUD
AUD/JPY
