Greeting, Everyone for an “Interim” Update!
We certainly will return to the Four Siblings at the next Update… I just wanted to cover the Oil and Canadian Dollar relationship ahead of EIA Inventories Report.
We do have some “De-Coupling” with our “normal” Crude Oil and USD/CAD… as Crude has been falling on increasing levels of Supply Inventories…. and in the immediate-term over the last few hours… the Canadian Dollar itself has been strengthening with the Bear Flag formation on our Hourly View.
Let’s take a look, so give the Captures a Click for Commentary… and Post-Time is 12:50 GMT.
Keep in mind that, as always, I have no idea where these Data Points will emerge….although with the massive Crude Imports falling to China… we still may remain in Depreciating Mode on Oil.
Always try to be mindful that these Correlations that we see between Commodities and Currencies.. Equities and Currencies… and every other kind of correlative activity is constantly changing and weaving in and out of each other!
Of course… I will be back for another Update, as we check on our “Four Siblings”… and see how these Major Units are fairing.
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