During Thursday session, we get the German Unemployment Numbers, and of course the GDP numbers coming out of United States for the quarter over quarter measurement. With this, it’s very likely that we may get some action in the market on several different fronts.

Gold

Gold markets continue to drift a little bit lower, but quite frankly there is a massive amount of support just below that will have to be paid attention to. At this point in time, it looks as if the $1300 level is acting as massive support, but it appears that the put buyers are trying to get down there, and there seems to be enough room for them to continue to jump into the market, at least short-term.

USD/CAD

The US dollar continues to try to climb against the Canadian dollar, and it now appears that we are going to try to break above the highs set on Tuesday. If the market does that, it’s likely that the call buyers will see this as an encouraging sign. It appears at this point in time the call buyers are in the driver’s seat, but in low gear.

Nikkei 225

The Nikkei 225 had a slightly negative session during the Wednesday trading hours, but at the end of the day we still see quite a bit of support near the ¥16,250 level. Because of this, it’s likely that call buyers will continue to defend this area, perhaps offering short-term call buying opportunities.