Blizzard Holiday

Good morning all! Well yesterday made for an eventful week and I am sorry to say I have  a feeling that today will be a slow trading day due to Blizzard Nemo. Not much going on with Gold & Silver but I want to mention that I have seen big moves when the Big Boys are not in the pits in NY, I do not see a valid reason for the metals to get hit today in a big way, let's see what this day brings.

The Chinese data came in better than expected last night and the Canadian job # showed that they lost 21,000 jobs but the unemployment # came in at an even 7% better than expected. The Cad reacted negatively and is now back below parity. I'll watch the rest of the day's action there and I am taking notice that the Aussie is 70 points off the lows it made last night early in Asia. As I stated last night I do not think the US Dollar has much momentum going for it. Here is the daily chart on the dollar that I had promised. Let us see if it can close the week above that all important 80 handle. I am sorry that I do not post charts with all lines and indicators, I think you can see what I am talking about when I do post a chart. If you are disappointed please let me know.

I will let you know that I am interested in the Euro now and believe it is worth buying as long as we hold above 13280. It did make a low around 13360 and is now back above 134. I will be looking for 140 in the coming months. As stated here, I am a dollar bear and will look for opportunities to capitalize on its long term descent! I have been waiting a long time for this market to break below 79 and it should in the near future, in my opinion.

The Euro was jawboned lower yesterday to help the Dollar from collapsing through that critical support @ 79. Jawboning can make an impact as you all saw yesterday, however it does not last long!

I do not think I will be posting until tomorrow or Sunday. I do not think I will have much more to say later today. I know I will be watching the markets closely and will update you on further developments for next week. I hope everyone has a safe and relaxing weekend.

Thanks for reading!
Martin