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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8:30 AM USD FOMC Member Dudley Speaks
9:30 AM AUD Monetary Policy Meeting Minutes
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
4:30 AM GBP Average Earnings Index
10:00 AM USD Existing Home Sales
10:30 AM CL Crude Oil Inventories
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
4:00 AM EUR Flash Manufacturing PMI
8:30 AM CAD CPI