InvesTech - Chart of the Week - 06/27/11
Charts courtesy of James Stack InvesTech Research

Crude oil prices moved down toward $90 per barrel last week when the International Energy Agency announced plans to release strategic oil reserves in order to boost supply during July. Going forward, the overall outlook for global growth will continue to have an important impact on the price of oil and we’ll be watching crude prices closely in the months ahead.

The U.S. dollar is still holding up above its recent low as Europe struggles to solve ongoing political and financial difficulties in Greece. If the U.S. economy manages to remain on stable footing, the Fed will have some leeway to pull back from its current easy-money policies. If so, this could further help support the dollar. Stay tuned for updates.


