Theme 8-28

Volatility
Jackson Hole Symposium has already given markets  a steady flow Of Fed speakers ,Consensus I find,is one Looking past recent volatility and Focus on Data.Inflation Still Non existent , PCE core y-o-y dipped below consensus.consensus. September Hike seen at 30%, still can change with a strong Jobs Report or a hawkish Fed quote.

The Close today of all products will be important

Playbook Update:
Base metals and Oil moving Higher with Dollar.is it now a strong US Economy=Strong Dollar=More demand for “stuff” Just a thought.

From MS.  Oil Catalysts

Potential bullish catalysts for oil could include:
1. China stimulus, particularly a large fiscal package.
2. A further reversal in the trade-weighted USD. Any stability in China’s FX or
additional changes in expectations for the path of US rates could be catalysts.
3. Excitement over declining US production as figures come in. Greater cuts to
capex budgets and a renewed fall in the rig count may also bring the focus
back to declining US supply
4. A modest easing in OPEC production, even if just for seasonal maintenance.
5. Headlines about an emergency OPEC meeting, even if no action is taken
6. Congress voting against the Iran deal. Overcoming a veto seems unlikely,
but such a vote could undermine confidence in the deal’s success.
7. More resilient GDP and/or oil demand figures could help ease macro fears

10:00  Tropical Storm Ericka:

She has shifted path,now moving further towards Gulf .Short covering    before weekend

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