Monday, May 23, 2011

Canadian Dollar & Crude Oil

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Watch the Canadian Dollars direction, it is testing it's 100-ema today as ITZ has highlighted over the last few weeks. The U.S. Dollar is seeing strength as traders/investors seek 'relative safety' over other currencies (euro). But gold is also up as many view all currencies as risky. This is pressuring oil lower. ITZ posted this chart last week focusing on $CDW & $WTIC CHART . In this Weekend Review ITZ noted that $95 could be tested on WTI crude oil. JPMorgan continues to reiterate higher crude prices in Q3 calling for $130 Brent ($118 WTI) a barrel Read Story

A check on the price and demand for crude and the other market factors weighing in on oil's decline, with John Kingston, Platts director of oil/global director of news.

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