Daily Market Analysis Video – January 22, 2016

The session on Friday will be heavily tilted toward the European Union, as we head PMI numbers coming out of both the service and manufacturing sectors in the EU as well as Germany itself. Because of this, we believe that a lot of the trading will be done early in the session, but eventually could have a knock on effect around the world. We also get retail sales out of Canada and the United Kingdom during the session as well, but in the end we believe that those will be minor occurrences.

1 – The US dollar has been stronger for quite some time, and we believe that it’s only a matter of time before that trend continues. Given enough time, the market should continue to favor the greenback, and with that we are still bullish of that particular currency in the Forex market.

2 – Looking at the precious metals market, it looks like we are trying to find a bit of value in the gold markets, but we are still very leery of silver. Because of this, it’s more than likely going to be a positive day for gold as we see support just below, but ultimately there is no need to be bothered with silver at this point.

3 – Stock markets around the world continue to look very soft over the longer term, but they may get a little bit of a boost in the short-term. Those rally should be put buying opportunities though, as the market is still struggling with a lot of economic concerns around the world.