The Equity Markets broke out last week to new highs after a consolidation period that began a few weeks ago. In the week ahead be watchful of a potential stall as price action is near overbought technical conditions.
The US Ten Year Note continued to consolidate with the yield finishing the week at 2.71%, which is 128 bps above its 1.43% all-time closing low on July 25th of last year but 13 bps below its interim closing high on September 5th.
The US Dollar also continued to consolidate with a close correlation to the US Ten Year Note yield. This week should be important for the Euro currency as we get the first reading of November PMI surveys. The growth outlook in Europe remains divided, making price action sensitive to upcoming economic data releases.
Also in the week ahead the Fed will release minutes from the October 29-30 Federal Open Market Committee meeting. The minutes should provide the markets with additional insight into the Fed’s policy decision as well as the outlook for future policy. Traders and investors alike will be focused on the potential of tapering of quantitative easing.
Monday
1:30 PM IQ Room – Advance Concepts With Joe Rios – The Week Ahead Review
7:30 PM AUD Monetary Policy Meeting Minutes
Tuesday
5:00 AM EUR German ZEW Economic Sentiment
8:45 AM USD Treasury Sec Lew Speaks
10:00 AM USD FOMC Member Dudley Speaks
2:15 PM USD FOMC Member Evans Speaks
7:00 PM USD Fed Chairman Bernanke Speaks
Wednesday
4:30 AM GBP M PC Official Bank Rate Votes
8:00 AM The Trading Room ABC – Live Trading Dedicated To Automated Box Control Trading
8:30 AM USD Core CPI
8:30 AM USD Retail Sales
10:00 AM USD Existing Home Sales
10:30 AM Crude Oil Inventories
1:30 PM IQ ROOM – Advance Concepts With Joe Rios – RQ Wizard Worksheet
2:00 PM USD FOMC Meeting Minutes
4:15 PM CAD BOC Gov. POLOZ Speaks
8:30 PM Mid Month Review With Strategist Joe Rios And Global Trader Edward Preston
8:45 PM CNY HSBC Flash Manufacturing PMI
Tentative JPY BOJ Press Conference
Thursday
3:00 AM EUR French Flash Manufacturing PMI
3:30 AM EUR German Flash Manufacturing PMI
4:05 AM AUD RBA Gov. Stevens Speaks
8:30 AM USD PPI
8:30 AM USD Unemployment Claims
10:00 AM USD Philly Fed Manufacturing Index
10:30 AM Natural Gas Storage
1:00 PM USD FOMC Member BULLARD Speaks
1:30 PM IQ Room – Advance Concepts With Joe Rios – Strategy Development And Testing
Friday
4:00 AM EUR German Ifo Business Climate
8:30 AM CAD Core PPI
8:30 AM CAD Core Retail Sales
8:40 AM USD FOMC Member George Speaks
