InvesTech -Chart of the Week - 05/22/09
courtesy of James Stack InvesTech Research

The U.S. dollar continues to soften but is well above the lows seen in December 2008. If the dollar is able to hold up at these levels, then it becomes more likely that the U.S. will continue to lead the world economy out of recession.

Oil prices remain elevated on improving economic sentiment, a soft U.S. dollar and news of possible supply disruptions in Nigeria. However, until existing oil inventories have been drawn down significantly, we expect prices to be vulnerable going forward. Stay tuned for new updates.


