From The Desk Of Joe Rios…
The Grains sold off dramatically with Wheat closing down -9.2%, Soybeans -8% and Corn -7.6% for the week. Other commodities that traded lower included Natural Gas losing -5.2% and Crude Oil slipping -3.2%. The out performers to the upside included U.S. Treasury 30 Year Bonds gaining 1.8%, Silver 1.7% and Gold 1.5%. In the Forex market most currencies traded within a tight range as illustrated by the US Dollar finishing 0.0% flat. Rotation flows within the benchmarks showed the S&P 500 and US Dollar trading mixed in consolidation mode while the US Treasuries traded higher with a bullish RiosQuant ranking and closing the week at a key technical resistance level. In the week ahead I will pay close attention to the markets that finished the week at key levels including the Metals, US Treasuries, Japanese Yen and Crude Oil. I will also pay attention to economic data releases especially from China.
Joe Rios
Founder – Rios Quantitative LLC
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Topic: What’s the “pattern setup” for the new week?
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Topic: Momentum Trading Oil and E-mini Stock Futures
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Monday
1:00 PM EUR ECB President Draghi Speaks
9:30 PM AUD Monetary Policy Meeting Minutes
Tentative JPY Monetary Policy Statement
Tuesday
5:00 AM EUR German ZEW Economic Sentiment
5:00 AM GBP BOE Gov. Carney Speaks
8:30 AM USD Core Retail Sales
10:00 AM USD Fed Chair Yellen Testifies
6:45 PM NZD CPI
10:00 PM CNY GDP And Industrial Production
Wednesday
4:30 AM GBP Unemployment Rate
8:30 AM USD PPI
8:30 AM CAD Manufacturing Sales
10:00 AM CAD BOC Rate Statement And Overnight Rate
10:00 AM USD Fed Chair Yellen Testifies
10:30 AM Crude Oil Inventories
11:15 AM CAD BOC Press Conference
Thursday
8:30 AM USD Building Permits And Unemployment Claims
10:00 AM USD Philly Fed Manufacturing Index
10:30 AM USD Natural Gas Storage
Friday
8:30 AM CAD Wholesales And Core CPI
9:55 AM USD Preliminary UoM Consumer Sentiment
