It has been a relatively uneventful day on the forex and U.S. equities markets. The fallout from the weekend government shutdown does not appear too severe and no big headlines are coming out of the World Economic Forum in Davos. The leading story of the day has been the strength in commodity pricing, with gold and WTI crude oil putting up bullish trends on intraday timeframes.

The U.S. overnight session is full of secondary economic events:

Country                           Event

Japan                               Import/Export Data, Leading Economic Index

Eurozone                         Markit Manufacturing/Services PMI (Dec.)

U.K.                                 Average Earnings (Nov.), ILO Unemployment Rate (Nov.)

Wednesday’s U.S. trading day brings the EIA Crude Oil Inventory report and a collection of real estate metrics. No primary market movers are slated, but the ongoing tone from the FED is worth noting. With the next week’s meeting approaching quickly, the markets will be looking for clues to future policy facing the USD.

Cryptocurrency Update

After the fireworks of last week, cryptocurrencies are making a rebound. Led by the resurgence of Bitcoin (BTC), altcoins are following suit and posting recoveries. Check out some of the gains made over the last 24+ hours:

Coin                                Gain

Bitcoin (BTC)                  +6.03%

Bitcoin Cash (BCC)        +5.5%

Ethereum (ETH)             +2.5%

Litecoin (LTC)                 +3.7%

While the week-over-week numbers facing cryptos are still in the red, values appear to be stabilizing. It is an understatement, but the news cycle for cryptocurrencies is extremely important. The last 24 hours have been relatively quiet, thus values have stabilized.

Overview

In times of relative calm, it is important to resist the temptation to over trade. Documenting performance in a trading journal is a much more productive exercise than taking marginal positions.

If you are interested in becoming involved in the market, check out the signals page. Live trade setups for a variety of asset classes are readily available to help you engage the market from a position of strength.