Last week featured mixed economic data with the spotlight on falling commodity prices and corporate earnings. US Treasury 30 year bonds finished the week 1.73% higher followed by the euro 1.23%. Commodities fell across the board led by Wheat -7.54%, Corn -6.72%, Crude Oil -6.33%, Copper -4.25%, Soybeans -3.49%, Natural Gas -3.28% and Gold -2.95%. Stock indices also finished weaker, giving up most of the gains that started from the post-Greece relieve rally on the 21st of July. Corporate earnings produced both big winners and losers. Some of the popular momentum stocks outperformed while stocks sensitive to commodities and the US dollar fell short of expectations. In the week ahead I will pay special attention to scheduled economic data including FOMC statement, Initial Jobless Claims, Michigan Sentiment and Consumer Confidence. Corporate earnings will remain in the spotlight as well as the next move of the US dollar. I will continue to focus on the market’s technicals, they should provide day trading opportunities.
A special note, due to recent price action in the markets, we are opening our live trading room at 8:00 am ET and will extend the closing.
Join us this week in our LIVE trading room and watch how we use intermarket relationships and economic data releases to uncover trading opportunities.
– Joe Rios
Rios Quantitative LLC
The Trading Room® TradeLAB – Global Trading with Quantitative Technologies
Join our trading community with RiosQuant trade coaches Agustin Criado and Joe Rios as well as the RQ members. Live demonstration of our pre-market quantitative analysis, real-time trading signals with RQ algorithmic technology, strategy performance review and Q&A session.
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ATTENTION MEMBERS – To access The Trading Room® TradeLAB please log-in on the riosquant.com site and click on the link under The Trading Room. If you are already logged in, then click on the “My Account” found on the upper right hand corner of the first page.
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Step 3: To access The Trading Room® TradeLAB simply click on the gotowebinar link under The Trading Room. Once you register on the gotowebinar link you will receive daily access links directly from gotowebinar. Please note that you will need to repeat this step on the following Monday for the following week’s access link. Live trading begins Monday thru Friday from 8:00 am to 11:00 am ET.
4:00 AM EUR German Ifo Business Climate
8:30 AM USD Core Durable Goods Orders
4:30 AM GBP Preliminary GDP
10:00 AM USD CB Consumer Confidence
10:00 AM USD Pending Home Sales
10:30 AM CL Crude Oil Inventories
2:00 PM USD FOMC Statement
8:30 PM AUD RBA Gov. Stevens Speaks
9:30 PM AUD Building Approvals
8:30 AM USD Advance GDP
8:30 AM USD Unemployment Claims
10:30 AM NG Natural Gas Storage
9:00 PM NZD ANZ Business Confidence
9:30 PM AUD PPI
8:30 AM CAD GDP
9:45 AM USD Chicago PMI
10:00 AM USD Revised UoM Consumer Sentiment
9:00 PM CNY Manufacturing PMI