From the desk of Joe Rios
Oil price action stole center stage again hitting fresh 5 1/2 year lows along with breaking key psychological levels with Brent breaching $65 and WTI $60. As expected volatility shot higher with the VIX spiking 44%. Risk-OFF dominated the week with the US Treasury 30 Yr Bond climbing 2.8% while the S&P 500 dropped -4.0%. Tighter correlations continued to provide insight to intra-day market direction as Gold gained 2.7% along with US Treasury price action. The Japanese Yen also saw positive rotation flows, rising 2.3% as carry trades continued to unwind throughout the week.
In the week ahead I will pay close attention to the HSBC Flash Manufacturing PMI from China, the European Manufacturing PMIs and the German IFO as traders will be looking to see if the weaker crude prices have had any positive impact on the industrial sector. We also have the FOMC meeting on Wednesday and a corresponding press conference that may spark aggressive price action in the global markets.
Joe Rios – Chief Strategist
Global Trading with Quantitative Technologies
Monday through Friday beginning at 7:30 AM ET
RQ trade coaches include Edward Preston, Steve Schwartz and Joe Rios. Live demonstration of our pre-market quantitative analysis, real-time trading signals with RQ algorithmic technology, strategy performance review and Q&A session.
Monday, Wednesday, and Thursday beginning at 1:30 PM ET
SUBSCRIPTION ONLY – REQUEST FREE TRIAL HERE:
https://www.thetradingroom.com/algorithmic-trading/
The Trading Room EDU – Educational Workshop Covering the RiosQuant Trading Indicators:
Tuesday beginning at 7:30 PM ET
Topic: The Next Big Swing – Presenter: Steve Schwartz
Wednesday beginning at 1:30 PM ET
Topic: Follow the Money Trail – Presenter: Steve Schwartz
Saturday beginning at 11:00 AM ET
Topic: What’s GnosTick Trading? – Presenter: Steve Schwartz
Monday
8:30 AM USD Empire State Manufacturing Index
9:15 AM USD Capacity Utilization Rate And Industrial Production
7:30 PM AUD Monetary Policy Meeting Minutes
8:45 PM CNY HSBC Flash Manufacturing PMI
Tuesday
2:00 AM GBP Bank Stress Test Results
3:00 AM EUR French Flash Manufacturing PMI
3:30 AM EUR German Flash Manufacturing PMI
4:00 AM GBP BOE Gov. Carney Speaks
4:30 AM GBP CPI
5:00 AM EUR German ZEW Economic Sentiment
8:30 AM CAD Manufacturing Sales
8:30 AM USD Building Permits
Wednesday
4:30 AM Claimant Count Change And Average Earnings Index
8:30 AM CAD Wholesale Sales
8:30 AM USD CPI
10:30 AM Crude Oil Inventories
2:00 PM USD FOMC Statement
2:30 PM USD FOMC Press Conference
4:45 PM NZD GDP
Thursday
4:00 AM EUR German Ifo Business Climate
4:30 AM GBP Retail Sales
8:30 AM USD Unemployment Claims
10:00 AM USD Philly Fed Manufacturing Index
10:30 AM Natural Gas Storage
Tentative JPY Monetary Policy Statement
Friday
Tentative JPY BOJ Press Conference
8:30 AM CAD Core CPI And Retail Sales
