InvesTech - Chart of the Week - 08/03/10
Charts courtesy of James Stack InvesTech Research

Crude oil prices are moving higher on news of continued economic growth but they are still well within our target range of $60 to $85. Over coming months, the direction of crude prices will continue to be impacted by the pace of the global economic growth as well as the upcoming hurricane season. Stay tuned for updates.
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The U.S. dollar pulled back again this week as its “safe-haven” value diminished as global equities markets improved. However, the U.S. dollar is still well above 2009 lows and this will benefit the U.S. economy because the Federal Reserve won’t be forced to tighten monetary policy sooner than expected. We’ll continue to watch this key economic indicator closely in the months ahead.


