As noted in Tue's analysis, focus
on potential for a pullback toward the Structural Breakout Point/Prior
Resistance, 94s-93.50s, was key in Wed's auction as price discovery lower to
the Avg Daily Range Low/Key Support Area did occur on the "bearish"
EIA narrative. Balance trade developed through the FOMC's largely redundant
and unchanged policy guidance. Focus on response to Key Support following the
pullback into Thu's auction.
Wednesday's Auction
Central Banks
- FOMC. (Federal Reserve)
- 5 Questions About The ECB's Asset Buying. (WSJ)
- PBOC Adds Stimulus. (Bloomberg)
Geopolitics
- Gazprom Begins Sales In Roubles & Yuan. (Examiner)
- US Targets IS' Oil Smuggling Operations. (Oil Price)
- North Sea Oil & Scotland's Referendum. (Platts)
 |
| Source: EIA (Sep 2104) |
Supply/Demand & Markets
- API: +3.3mil v -1.6mil exp. (Reuters)
- EIA: +3.7mil v -1.6mil exp. (EIA)
- OPEC May Pump Less In 2015. (Bloomberg)