Themes

• General mood is “risk off”
• Holiday thinned market sees the recent trends continue
• USD and gold strength remains the near-term story

What’s Moving
An interesting night overnight, with USD strength seen as the main theme. Stops were triggered in the EUR/USD which prompted the move, while big gains were also seen in the USD/CAD. USD/JPY is also holding just below recent highs.
Gold continued to rise, grinding new territory to the north side of the chart, while oil prices finished lower, but remained fairly buoyant.
Equities were mixed on the day, with the S&P500 and the NASDAQ both posting gains, while a late dip at the big end of town saw the DJIA finish slightly weaker.

Thoughts
With little data on the slate today, we are expecting the usual Friday session consolidation of the recent moves. Expect the Dollar to remain firm, but capped with profit taking expected to prevent further range extensions.

Pivot Points