Global stocks rebounded led by the Euro Stoxx 3.34%, DAX 3.24%, Nikkei 2.88% and the Nasdaq 2.56% all rising for the week. Other risk assets also finished the week stronger with Crude oil pushing 6.12% higher and Copper gaining 3.06%. Commodity currencies also benefited, helping the Canadian 2.92% and the Australian dollars 2.18% in the positive. The lower interest rate currencies, specifically the Euro -1.06% and Japanese yen -1.47% finished weaker. ECB President Mario Draghi made some dovish comments during last week’s press conference suggesting that the ECB may adopt a more aggressive easing stance in the near future.
The economic calendar is a bit light in the upcoming week, featuring the FOMC rate decision and statementon Wednesday. Traders will also be focusing on earnings data, with Apple, Amazon and Facebook reporting. Potential risk of further volatility in the global financial markets remains, therefore I will be looking for key breakpoints in the markets for momentum trade set-ups.
Join us this week and experience the power of market intelligence. We will be show casing the new and improved Einstein III automated trading system.
Joe Rios
Live Trading Rooms and Events
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email: ken@riosquant.com
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MONDAY
4:00 AM EUR German Business Climate
1:00 PM EUR ECB President Draghi Speaks
TUESDAY
5:45 AM GBP BOE Gov. Carney Speaks
10:00 AM USD Consumer Confidence
7:30 PM AUD CPI
WEDNESDAY
9:00 AM USD New Home Sales
10:30 AM CL Crude Oil Inventories
2:00 PM USD Federal Funds Rate
2:00 PM USD FOMC Statement
3:00 PM NZD RBNZ Rate Statement
THURSDAY
4:30 AM GBP GDP
8:30 AM USD Unemployment Claims
8:30 Am USD Durable Goods Orders
FRIDAY
12:00 AM JPY BOJ Outlook Report
Tentative JPY BOJ Press Conference
5:00 AM EUR CPI Flash Estimate
8:30 AM CAD GDP
8:30 AM USD GDP
FUTURES, OPTIONS, AND FOREIGN EXCHANGE PRODUCTS