Midweek News 20Mar

Source: EIA (Mar 2013)

Graphics

Central Banks

  • Bernanke Tightens Hold On Fed Message. (Bloomberg)
  • “Rich” Nations Should Let Inflation Rise To 4%, Sayeth World Bank. (Reuters)
  • Keiser Report w/Jim Rickards. (RT)
  • Fed Holds Firm On Stimulus Plan. (Reuters)

Geopolitics

  • The Cyprus Situation. (Reuters)
  • Cyprus, In Perspective. (Validus)
  • Computer Technicians Jailed For Spying On Saudi Aramco. (Oil Price)
  • Syria Asks UN To Examine Alleged Chemical Attack. (AP)

Supply/Demand & Markets

  • API: -413k v +2mil exp. (Reuters)
  • EIA: -1.3mil v +2mil exp. (EIA)
  • Major Workforce Shortage Facing Energy Industry. (Fuel Fix)

WTI Crude: FOMC Effect…Feckless. 20Mar

 The FOMC study plotting the rolling 3 month average of recent FOMC days v 60 day averages and the 30min behavior.

1. Note the lackluster 30min behavior in the NY session with the exception of the 1130am outlier, a function of the shift of release time which today is scheduled for 1pm.

2. Today’s Globex session has diverged from recent behavior in exceeding range amplitude.

Alternatively, here we see the same data plotted for recent ECB days. Two phenomenon are of note relative to FOMC: 

1. Over both London & NY sessions, ECB days have offered more normalized volatility potential compared to FOMC. 

2. Within the NY session, ECB 30min averages have exceeded the 20day averages (Jan here). 

While media price propaganda is ample on economic releases, 
the market generated data reveals less volatile behavior than one would be led to believe
in the case of FOMC. 

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