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During the course of the day on Wednesday, we have a huge amount of announcements from various countries around the world, and that of course will move the markets all over the place. With this, we pay special attention to the FOMC Meeting Minutes, as people are starting to question whether or not the Federal Reserve is going to raise interest rates.
1 – The WTI Crude Oil market should continue to fall, especially if the US dollar starts to strengthen again. At this point in time though, it’s difficult to imagine that the markets are going to rally as energy should continue to fall in general. Ultimately, there is a serious lack of demand so even though we’ve seen quite a bit of positivity in the oil market, and of course the natural gas markets, it’s difficult to buy calls.
2 – The US dollar seems to be strengthening against commodity currencies, and you may see more of that if there are concerns about the economy worldwide. However, we could find the US dollar struggling against other currencies such as the Yen, Franc, and other possible safety currencies.
3 – Stock markets fell a bit during the session on Tuesday, and is possible we may do the same thing go forward today, as there are a lot of global concerns. The put buyers seem to be in control, at least for the time being but ultimately the call buyers will return. We prefer short-term trades overall, and as a result look to the short-term charts for trades.
