Many are wondering why USO is up...
USO
EUR/USD
Look similar?
Oil is priced in $USD all over the world, so when the Euro strengthens, the dollar drops and oil has to be adjusted up in price to compensate. The FX move is what is behind the move in Oil. Although it seems like the Euro may be moderating here.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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