During the day on Tuesday, we get the Canadian GDP and the UK Manufacturing PMI numbers. Because of this, we could have a little bit of momentum during the day but we are not expecting massive volatility. With that being the case, or looking at the following 3 assets:
WTI Crude Oil
The WTI Crude Oil markets fell rather significantly during the day on Monday as it appears that non-OPEC members are going to be more likely to keep production levels as high as they have been. With that being the case, oversupply should continue to be an issue and therefore put buyers could be encouraged to push this market down towards the $46 level.
Nikkei 225
The Nikkei 225 went back and forth during the day on Monday, as we are treading water just below the ¥17,500 level. If we can break out above there, the market should continue to go higher as call buyers would be very encouraged by that move. Pullbacks at this point in time will more than likely be looked at in the vein of value by call buyers.
USD/CAD
The USD/CAD pair Higher at the open on Monday, and then bounced a bit in order to show continued support. With this being the case, and the Canadian GDP numbers coming out today, a miss coming out of on a while could very well send this pair much higher as call buyers will be encouraged. At this point, the 1.33 level suddenly looks supportive.
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