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The Week Ahead in the Global Financial Markets

Currency traders focused on the British pound as the sell-off continued due to growing fears over the consequences of Brexit, an exit from the European Union. The deep decline stretched across all of the major currency counter parts, closing at the low of the week against the US dollar. The Euro continued to trade in a range box, with the top edge resistance at 1.1465 and the bottom edge support at 1.0460. The Canadian dollar was the best performing currency, closing the week 1.91% higher and at a key breakpoint level. Also, take note of the bullish inverted head and shoulders pattern formation on the weekly chart. Prior technical support has become resistance, at the 0.7430 level, and should attract different styles of traders with the potential to create volatility with trading opportunities.​
In the commodity market Crude oil closed higher 3.43% but off the week’s high.  Gold finished the week relatively unchanged but will be heading into the last day of trade for the month 9.5% higher and over 15% since the start of 2016.
We have a busy economic calendar in the week ahead, which may help trigger aggressive price action with the risk assets including stocks, bonds and currencies.  Cross-market correlations along with technical patterns should be strongly considered for selecting optimal markets for trading opportunities.
Join us this week in our LIVE trading room and watch how we use the new upgraded Einstein III automated trading system to uncover trading opportunities.

Joe Rios – Founder, Rios Quantitative LLC​​


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8:30 AM            CAD     Current Account

9:45 AM            USD     Chicago PMI

9:00 AM            USD     Pending Home Sales

7:30 PM            AUD     Building Approvals

8:00 PM            CNY     Manufacturing PMI

10:30 PM          AUD     Rate Statement



3:55 AM            EUR     German Unemployment Change

4:30 AM            GDP Manufacturing PMI

8:30 AM            CAD     GDP

10:00 AM          USD     Manufacturing PMI

7:30 PM            AUD     GDP



4:30 AM            GDP     Construction PMI

8:15 AM            USD     ADP Nonfarm Employment Change

10:30 AM          CL        Crude Oil Inventories

7:30 PM            AUD     Trade Balance



4:30 AM            GDP     Services PMI

8:30 AM            USD     Unemployment Claims

10:00 AM          USD     ISM Nonmanufacturing PMI

10:30 AM          NG       Natural Gas Storage

7:30 PM            AUD     Retail Sales



8:30 AM            CAD     Trade Balance

8:30 AM            USD     Nonfarm Employment Change