The market opened this week at/near the Key Structural Resistance, 110.50s, where sell programs entered, driving price lower, achieving the Stopping Point, 106.40s, at/near the Aug's POC into midweek.
Buy programs entered, driving price higher, filling in the low usage area, 108s-109.20s, encountering sell programs at/near the 109.20s, continuing the rotational trade as the current Balance area, 106.30s-109.20s, develops. The market closed the week at/near 108.20s.
Graphics
Central Banks
- "Consensus": QE Tapered To $65bil In Sep. (Bloomberg)
- America's Bond Blues. (Zhang Monan/Project Syndicate)
- Sterling "Strength", Econ Data Coming Up Roses In The UK. (Money Beat)
- BRICs "Add" To US Debt Distress. It's The BRICs & Bush's Faults. (Bloomberg)
- Russia's Central Bank Appointment: Ksenia Yudayeva. (Reuters)
- Jim Rickards Opines On The Taper. (Moneyweb)
Geopolitics
- US-Russia Agreement On Syria. (AP)
- Where Are They Now? Cast Of 2008 Financial Crises. (WSJ)
- Goldman Opines On Syria Risk. (Zerohedge)
- Berlin Mulls Path To Bank Union Without Treaty Change. (Reuters)
Supply/Demand & Markets
- US To Cover Loss Of Libyan Production, Sayeth IEA. (Platts)
- Arctic Sea Lane Finds Favor As Suez Security Doubts Grow. (Bloomberg)
- China To Invest 80bil Yuan In Oil & Gas Exploration In 2013. (Reuters)