Themes

• General mood is “risk off”.
• Oz dollars gained some strength after Lowe’s speech last Friday.
• US consumer sentiment hit the expectation.
• US new home sales printed 696K higher than 590K expected and 629K previously.

What’s Moving

AUDUSD rebound since it hit 0.6800 area with fading strength of US dollars. Bulls with eyes aiming at 0.7000, the major psychologic resistance level to break before further swing to the north.

Crude oil turned to north around 105.00 as a short-term support level. Bulls are trying to take back 109.00 as the next support before breaking 110.00. Any sign of turning south before 109.00 may change the short-term upward bias and head south to test 105.00 again.

Gold swing area hasn’t been changed for the past half month. Keep an eye on today’s movement after NY session opened.

Thoughts

Today’s calendar is light. Durable Goods Orders from US probably will be the most attractive print late tonight.

Keep an eye on the following event coming soon:

• US Durable Goods Orders
• US Pending Home Sales

Pivot Points