See if you can guess who I am now?
Fall like a brick one day, rally like a freight-train the next?
Cable? Good guess, but wrong!
I’m oil!
After sliding to $65.25 yesterday at the peak of the risk-off trade in early US trade, crude continues its rebound, now above $69.00.
One day trends, as I noted this morning, are about the best one can hope for in this thin August market. Be quick or be dead…
USD/CAD, traditionally the most oil-linked currency, trades at session lows of 1.1007 this afternoon as crude rebounds. It reached 1.1124 yesterday.
