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The Week Ahead in the Global Financial Markets

From the desk of Joe Rios

Last week’s lack of economic data reflected in a mixed trading environment as correlations were mostly loose across the Commodity, Bond and Currency markets. Copper rallied 2.5% while Crude Oil dropped -9.3%, US 30 Yr Bond traded higher 2.5% pushing yields lower although the US Dollar’s momentum continued closing the week 2.4% higher.

In the week ahead I will shift my focus to the Federal Open Market Committee’s interest rate decision for the US but more important will be the accompanying statement.  Traders will be paying attention to see if the word “patience” has been let go in terms of the timing of the first rate hike.  Past FOMC statements and press conferences have created trading opportunities in the major bench marks and I would expect the same this coming Wednesday.

In the Currency market I will be paying close attention as the Bank of England releases minutes from its March meeting, in which the Bank held interest rates steady at 0.5%. Recent economic performance has been regarded as the best since the financial crisis however Governor Carney seemed to reverse his earlier signals and encouraged the market to push out when he will deliver the first rate hike. Uncertainty about the national election, low inflation and weak wage growth are putting a cloud over the currency as seen in the recent price volatility.

Joe Rios

 

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RQ EDU Workshop Training – How To Trade Crude Oil Futures NOW!
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Monday

8:30 AM            USD      Empire State Manufacturing Index

9:15 AM            USD      Industrial Production

10:00 AM           USD      NAHB    Housing Market Index

2:45 PM             EUR      ECB President Draghi Speaks

8:30 PM             AUD      Monetary Policy Meeting Minutes

Tentative           JPY       Monetary Policy Statement

 

 

Tuesday

Tentative           JPY       BOJ Press Conference

6:00 AM            EUR      German ZEW Economic Sentiment

8:30 AM            USD      Building Permits

8:30 AM            CAD      Manufacturing Sales

Tentative           NZD      GDT Price Index

 

Wednesday

5:30 AM            GBP      Average Earnings Index And Claimant Count Change

8:30 AM            GBP      Annual Budget Release

8:30 AM            CAD      Wholesale Sales

10:30 AM           CL         Crude Oil Inventories

2:00 PM             USD      FOMC Economic Statement

2:30 PM             USD      FOMC Press Conference

5:45 PM             NZD      GDP

 

Thursday

4:30 AM            CHF       SNB Monetary Policy And Press Conference

6:15 AM            EUR      Targeted LTRO

Day One                        EUR      EU Economic Summit

8:30 AM            USD      Unemployment Claims

10:00 AM           USD      Philly Fed Manufacturing Index

10:30 AM           NG        Natural Gas Storage

10:10 PM           AUD      RBA Gov. Stevens Speaks

 

Friday

8:30 AM            CAD      Core CPI And Retail Sales

10:20 AM           USD      FOMC Member Lockhart Speaks

 


THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING COMMODITY FUTURES, OPTIONS, AND FOREIGN EXCHANGE PRODUCTS. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS