Weekend News 02Feb


Both USD-WTI & Brent-WTI correlations
have normalized in this past week.

Following a test of last week’s low,
this week’s auction continued the longer term
directional phase higher toward the
weekly 2nd standard deviation high, 98.06s,
(here) achieving a stopping point at/near 98.24s.

The market pulled back from this area in the
back half of the week, closing
in the upper cluster at/near 97.61s.

The market developed a double
distribution trend structure in the weekly
profile. 97s will be a key level next week.

IF 97s hold, probability favors
continued price discovery higher. Conversely,
IF the 97s fail, probability favors
inventory adjustment lower and
filling in of the two clusters (95.40s-96.90s),
(97s-98.20s).

Graphics
Central Banks

Geo-Politics

  • US May Have Broken Own Sanctions By Buying Iranian Oil. (RT)

Supply/Demand & Markets 

Outrageous Market Fortune

Midweek News 30Jan

Source: EIA (Jan 2013)

Graphics

Central Banks

  • Jim Grant Opines On Interest Rates. (CNBC)
  • Carney Will Face Commons Probe On BOE Inflation Targeting. (Bloomberg)
  • India Cuts Rates By 25bps. (FT Beyond BRICs)
  • Stanley Fischer To Step Down In June From Israel Central Bank. (AP)

Geo-Politics

  • US Plan For Mideast & Asia: Shadow Wars/No Interventions, Sayeth Escobar. (RT)
  • John Kerry Expected To Achieve Sec. Of State Appointment. (AP)
  • US Pledges $155mil In Aid To Syrian Rebels. (RT)

Supply/Demand & Markets

  • API: +4.2mil v +2.6mil exp. (Reuters)
  • EIA: +5.9mil v +2.5mil exp. (EIA)

Outrageous Market Fortune

  • How JPMorgan’s $5mil Loss Rose 80-Fold In Minutes. (Zerohedge)
  • Bank Probes Find Manipulation In Singapore NDF FX Market. (Reuters)
  • Hank Greenberg’s Polemic. (Bloomberg)