The market opened this week at/near 107.50s, upticking to last week's Settlement area, 108s, where sell programs entered, driving price lower, achieving the Weekly Stopping Point Low, 104.40s, within the Sep Structural Buying Tail, 104.20s-105.70s, balancing, 104.50s-105.40s, ahead of the key catalyst for the week, the FOMC policy announcement.
The Fed's non-taper decision resulted in buy programs entering, driving price higher, achieving the Weekly Stopping Point High, 108.15s, where sell programs responded, driving price lower, closing at/near 104.80s.
Graphics
- Einstein & The Great Fed Robbery. (Nanex)
- Control In Syria. (Reuters)
- US Fed Balance Sheet & MSCI Asia. (Reuters/Catherine Trevethan)
- Dow Performance Under Various Fed Chairmen. (Bespoke)
Central Banks
- Taper In Context Of Bank Loans. (Reuters)
- Options' Prices Key To Assessing Outlook, Sayeth Fed's Kocherlakota. Indeed, if interested in assessing outlooks based on flawed pricing model (Black-Scholes). "LTCM".... (Reuters)
Geopolitics
- Markets Await German Elections. (Guardian)
- Wall St. Launches Defense Of Physical Commodities Role. (Reuters)
- Tightening The Silk Road Belt. The US Makes War, China Makes Trade. (Diplomat)
- Why The US Needs To Fall Out Of Love w/Home Ownership. (Quartz)