Wednesday has a handful of announcements that we are paying attention to, with the first one being the German Manufacturing PMI announcement, anticipated to be 50.3 at time of release. This should move the EUR/USD pair, as well as the DAX. However, any rally in the EUR/USD pair is a put buying opportunity as far as we can see.
The British release there Manufacturing PMI number as well, anticipated to be 52.5 at the time of release. This will have a similar effect on the FTSE and the GBP/USD pair, as it should be good the higher the number. With that, we anticipate that the fairly benign GBP/USD pair may start moving again during the session. A move above the 1.63 level, we are buyers of calls.
Little later, we pay attention to the US ADP Nonfarm Employment Change numbers, as they are harbinger for what happens with the
Nonfarm Payroll numbers later in the week. Anticipated to come out at 210,000 for last month, it could move the stock markets in the United States, having us buy calls in the S&P 500, as we believe that market is ready to head back towards the 2000 level, if not the 2020 handle.
We also believe that the ISM Manufacturing PMI numbers could very easily have an effect on the stock markets in the United States as well as the US dollar, and we will be watching the stock markets in New York for opportunities to buy calls. Any pullback at this point time should be an opportunity to serve buying calls as well, as we believe that the S&P 500 is one of the better performing markets overall as far as longer-term charts are concerned. We have no interest in buying puts in any of the stock markets and we follow, but most specifically in New York.
