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The Week Ahead in the Global Financial Markets

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From the desk of Joe Rios

The Bank of Japan’s unexpected announcement to expand monetary stimulus pushed global stocks higher, helping the S&P 500 close the week near record highs and drove the Japanese Yen to the lowest level since December 2007. The stock market correction that started in mid October reached a full recovery by Friday, the final trading session for October. The Nikkei led the way gaining 10.1% followed by the Russell 4.8%, DJIA 3.3%, Nasdaq 2.5% and S&P 500 2.5%. The US Dollar also responded by rallying higher to break out of the early October highs, pushing most foreign currencies down to key support levels.

The commodity market also provided trading opportunities with Natural Gas, Soybeans and Corn all rising 6.7%. The metals provided shorting opportunities led by Silver dropping

-5.9% and Gold -4.7%. In the week ahead we have a busy calendar with corporate earnings news, key economic data, and the mid-term elections. My focus will continue to be on the correlations between the US 10 Yr Treasury Notes, S&P 500 and the US Dollar. All of the major markets finished the week at key levels, therefore I expect plenty of trading opportunities in the week ahead.

Joe Rios

Rios Quantitative LLC – Chief Market Strategist

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Tuesday and Thursday beginning at 1:30 PM ET

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Topic: Think Smarter Trade Better

Presenter: Steve Schwartz

 

MONDAY

Economic Data Release – Market Movers

GBP – Manufacturing PMI – 4:30 AM ET

USD – ISM Manufacturing PMI – 10:00 AM ET

CAD – BOC Gov. Poloz  Speaks – 12:50 PM ET

AUD – Trade Balance and Retail Sales – 7:30 PM ET

AUD – RBA Rate Statement – 10:30 PM ET

TUESDAY

Economic Data Release – Market Movers

EUR – Spanish Unemployment Change – 3:00 AM ET

GBP – Construction PMI – 4:30 AM ET

NZD – Unemployment Rate – 4:45 PM ET

JPY – BOJ Gov. Kuroda Speaks – 9:30 PM ET

WEDNESDAY

Economic Data Release – Market Movers

GBP – Services PMI – 4:30 AM ET

USD – ADP Nonfarm Employment Change – 8:15 AM ET

USD – ISM Non-Manufacturing PMI – 10:00 AM ET

USD – Crude Oil Inventories – 10:30 AM ET

AUD – Unemployment Rate – 7:30 PM ET

THURSDAY

Economic Data Release – Market Movers

GBP – Manufacturing Production – 4:30 AM ET

GBP – Official Bank Rate – 7:00 AM ET

EUR – Minimum Bid Rate – 7:45 AM ET

EUR – ECB Press Conference – 8:30 AM ET

USD – Unemployment Claims – 8:30 AM ET

CAD –  Ivey PMI – 10:00 AM ET

USD – Natural Gas Storage – 10:30 AM ET

AUD – RBA Monetary Policy Statement – 7:30 PM ET

FRIDAY

Economic Data Release – Market Movers

CAD – Employment Change – 8:30 AM ET

USD – Nonfarm Employment Change – 8:30 AM ET
THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING COMMODITY FUTURES, OPTIONS, AND FOREIGN EXCHANGE PRODUCTS PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.