Midweek News 13Aug

Tuesday's Auction

Balance development continued in Wed's auction around the 5 day POC as selling interest drove price lower toward Key Structural Support, 96.80s. Buying interest emerged again, driving price back toward the multi-day POC at/near 97.50s. Focus on response to 8day POC, 97.35, into Thu's auction.

Wednesday's Auction

Graphics

  • Euro Bears Getting Maxed Out? (WSJ)

Central Banks

  • Fed Vice-Chair Fischer Hints At Untaper, Prepares Bail-In Proposal. (Gold Core)

Geopolitics

  • Russian Banks Shrug Off Sanctions Threat To Capital Raising. (WSJ)
Source: EIA (Aug 2014)

Supply/Demand & Markets

  • EIA: +1.4mil v-2.05mil exp. (EIA)
  • Weakest Oil Demand Growth Since 2012 Sayeth IEA. (Bloomberg)