The much anticipated talks in Doha between the world’s biggest oil producers on Sunday has been postponed after OPEC’s Saudi Arabia told participants it wanted all OPEC members to  take part in the freeze, including Iran. Approximately 18 countries including Russia was scheduled to meet in order to secure a deal to stabilize output at January levels until October 2016. Iran said it would not attend and will not be a signatory to any deal as it would amount to self-imposed sanctions on the country, which is restoring crude production after the removal on its shipments.

In the week ahead, I will focus on the key macro themes involving the US Dollar, Crude oil and the Stock indices.  There will be plenty of important earning reports being released including Netflix, Intel, Microsoft, Alphabet (Google), Johnson & Johnson, General Electric and Goldman Sachs to name a few.

The negative correlation between the US Dollar and Crude oil has been evident.  Six months of back tests have validated the importance of using correlation analytics for enhancing performance results.  For example, trading Crude oil futures using the Einstein automated trading system as the strategy and implementing the US Dollar as a negative correlation to filter trades, the profit factor improved by approximately 22% and also helped reduce gross losses by 50%. Among quant traders, the profit factor is considered important for evaluating strategy performance. It is the amount made in relation to the amount lost. This is calculated by dividing the gross profit by gross loss, by definition a value greater than one means the trades have a positive net profit.

– Joe Rios

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Monday

8:30 AM            USD     FOMC Member Dudley Speaks

9:30 AM            AUD     Monetary Policy Meeting Minutes

Tuesday

5:00 AM            EUR     German Economic Sentiment

8:30 AM            USD     Building Permits

9:30 AM            AUD     RBA Gov. Stevens Speaks

10:35 AM          GBP     BOE Gov. Carney Speaks

11:00 AM          CAD     BOC Gov. Poloz Speaks

Wednesday

4:30 AM            GBP     Average Earnings Index

10:00 AM          USD     Existing Home Sales

10:30 AM          CL        Crude Oil Inventories

Thursday

4:30 AM            GBP     Retail Sales

7:45 AM            EUR     Minimum Bid Rate

8:30 AM            EUR     ECB Press Conference

8:30 AM            USD     Unemployment Claims

10:30 AM          NG       Natural Gas Storage

Friday

4:00 AM            EUR     Flash Manufacturing PMI

8:30 AM            CAD     CPI