NEWS

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The EIA reported a draw of -47 Bcf in natural gas storage last week, as expected as temperatures stayed low after the extreme polar vortex cold. Ahead we focus on LNG and Mexican exports.

The Bank of England nbsp;voted 9 to 0 to maintain Base Rate at 0.75%. The asset purchase target of £435 billion with a corporate bond target £10 billion for bond purchases was voted unaminous.

The Swiss National Bank kept negative interest rates unchanged at -0.75% for sight deposits. The SNB announced Weaker inflation forecasts matching moves by the ECB. Shows a long way from normalising policy and linked to the ECB actions.

Memory chip maker Micron reported better than expected earning and revenues after the close Wednesday. $MU had scaled back its forecasts on DRAM and NAND memory chips. $MU was up 8.6% on the news and is now up more than 37% for 2019.

The Federal Reserve as expected kept rates  at 2.15 -.50% as expected after a two day meeting on Wednesday with Jerome Powell as Chairman. Markets had priced in a 0% chance of No hike. Says Labor market remains strong and Inflation has declined largely due to energy

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