InvesTech - Chart of the Week - 07/26/11
Charts courtesy of James Stack InvesTech Research

Crude oil prices moved upward toward $100 per barrel on positive economic news regarding consumer confidence and home prices. 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 month ahead.

The U.S. dollar experienced a set back in recent days as uncertainty over the U.S. debt ceiling negotiations continues. However, 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 help support the dollar. Stay tuned for updates.


