During the day on Monday, the Industrial Production numbers coming out European Union will be the biggest mover of markets as far as economic announcements are concerned, but quite frankly there's not much beyond that to move markets as the calendar is so light. With that being the case, we have to look at the recent trends and simply assume that they are going to continue.

1 – The US dollar in general will be mixed, but should do fairly well against some commodity currencies. Without a doubt, the biggest mover will be against the Canadian dollar has oil markets seem to be in a freefall. Ultimately, we feel the oil markets will continue to crumble, and should be one of the stronger trades over the next couple of weeks. Today will be no exception.

2 – When it comes to Europe, we do like the Euro but also recognize that there is quite a bit of fighting to do before we get a clear-cut move to the upside for that currency. The European stock indices all should do fairly well, but at this point in time they seem to be looking for support so it might be a couple of days before we get any type of trading opportunity.

3 – Precious metals will continue to be volatile, but ultimately we believe that the easiest trade will be buying puts when it comes to the gold and silver markets. Yes, they will rally from time to time, but it will be short-term at best.