Noticed the uSD/jPY has crossed over a significant 50% Fibo at least five times in the last week, forming a Box Pattern, reflecting indecision in the market and a lot of un/loading trades. Gold is coincidentally flirting with key level $1162/oz..
Oil inventories came in lower for the U.S. today. There are many tankers in the Arabias and the Asiatics offshore - fully loaded - waiting to ship. So "contango" is definitely at play in the Futures market. CAD is likely going to further strengthen against the USD until more supply is tapped. Dow rising, leaving some on-the-table with natural resources considerably outperforming retail stocks...
Oil inventories came in lower for the U.S. today. There are many tankers in the Arabias and the Asiatics offshore - fully loaded - waiting to ship. So "contango" is definitely at play in the Futures market. CAD is likely going to further strengthen against the USD until more supply is tapped. Dow rising, leaving some on-the-table with natural resources considerably outperforming retail stocks...