Weekend News 07Sep

The market began the week with a sharp sell off/ liquidity vacuum during Sunday's Globex session driving price lower, achieving the Stopping Point Low, 104.20s, where buy programs entered, rejecting the low. 

Buy programs entered at/near 105.70s, forming a Structural Buying Tail, 104.20s-105.70s, implying the potential for price discovery higher. The market auctioned higher through the Major Aug Trade Cluster, 103.40s-108.80s, achieving a Stopping Point, 108.80s, at/near prior Key Structural Resistance. 

The market balanced, 108.80s-107.10s, through midweek, as buy programs entered into Fri's session at the Balance High, driving price higher above the Key Structural Resistance, achieving the Weekly Stopping Point High, 110.70s, closing at/near 110.55s. 

Graphics

• US & Russian Navies In Mediterranean. (Zerohedge)
• Labor Participation Rate. (Zerohedge)

Central Banks

• ECB Leaves Benchmark Unchanged. (Money Beat)
• BOE Holds Steady. (Reuters)
• BRICs To Commit $100bil To Foreign Exchange Fund. (Reuters)
• US Economy Growing At "Modest To Moderate" Pace, Sayeth The Fed. (Reuters)
• RBA Mangles Message On A$. (Reuters)

Geopolitics

• Senate Panel Authorizes Limited Military Strike In Syria. (Zerohedge)
• IMF Sees Emerging Economies Vulnerable To US Tapering. (Reuters)
• Japan Sees No Issue As US Waiver From Iran Sanctions Expires. (Platts)

Supply/Demand & Markets 

• EIA: -1.8mil v -2.5mil exp. (EIA)
• Sweet African Oil Toward 2011 High. (Bloomberg)
• 10yr Yield Approaching 3%. (Money Beat)