Oil a half-buck from $80

Commodities continue to build on recent gains, especially oil. Since breaking above $75, crude has not looked back and seems ticked for $80, which is only a half-dollar away from present levels. Gold continues to climb as well, back above the $1060 level.

The dollar is consolidating off its worst levels, though AUD and CAD are at their highs, it should come as no surprise. AUD is at 0.7275 while USD/CAD is at 1.0290. EUR/USD is at 1.4244.