Before the markets open on Monday here are some focus points for short-term traders:

EUR/USD: EUR now approaching its highs once again. Before going into the weekend the EUR was able to build a bit of momentum because of the weaker than expected jobs report from the U.S. – which means the Federal Reserve might not be able to stop its quantitative easing policy as soon as they had hoped. Possibility is that the EUR will test new highs in short-term.

Gold: Having dropped abruptly in trading on Thursday and early Friday. Gold bounced back towards the end of trading on Friday and now finds itself in the middle of a short-term range. Trading conditions in the precious metal are expected to remain volatile with opportunities for traders who have the stomach for fast market conditions.

Crude Oil: WTI (West Texas Intermediate – Crude Oil) remains near its higher values but continues to find resistance at these levels leaving the prospects for speculative short-term selling positions.

GBP/USD: Like the EUR, the GBP showed momentum going into the weekend. Having slumped in the middle of the week and into early Friday the Sterling picked up value as the Greenback slumped on the poor jobs numbers from the States.

Reports to look for are the PMI numbers from Spain and Italy on early Monday. The Services PMI data from the U.K.  And the ISM Non-Manufacturing reading from the States later in the day.

-Digital Markets Advisor