Weekend News 03Aug

The market balanced early week, 103.80s-105.40s, around last week's Settlement, 104.70s, before sell programs drove price lower, breaking down below Key Structural Support, 104s. 

Price discovery lower continued into midweek, failing to encounter initiated selling to confirm the breakdown. Buy programs entered Wed, driving price higher in the near term trade balance, 104s-109s, achieving the Stopping Point, 108.80s, at/near Major Structural Resistance. The market balanced, 106.40s-107.30s, closing at 106.95s. 

Graphics

• NFP. (Zerohedge)
• 10x More Waiter & Bartender Jobs Than Manufacturing Jobs In 2013. (Zerohedge)
• US GDP. (Reuters)

Central Banks

• ECB Introductory Remarks... Rates Unchanged. (ECB)
• Mainstream Finally Figures Out There Is No Sep QE Exit... Never Was. (Reuters)
• Gross Notional Derivatives: $632 Trillion. (BIS)

Geopolitics

• Banks: The New Enron? (Bloomberg)
• Rouhani Becomes Iran's President. (RT)
• Pentagon Conducting Overhaul Of War Plans For Pacific & Middle East. (Diplomat)

Supply/Demand & Markets

• North Dakota Crude Pipeline Volumes Rising, Shippers Rethink Rail. (Platts)

Outrageous Market Fortune

• Goldman's Criminal Charge Against Former Programmer. (Michael Lewis/ Vanity Fair)