Economic Concerns Pushing The Dollar Higher

On March 22, 2012 by TradingDesk

Economic concerns are pushing the dollar higher, and many global stock and commodity markets lower this morning, following weak manufacturing reports out of China and Europe. Downtrends in these data sets over the past few weeks has the energy market struggling choose between two evils, weak demand or supply disruptions.

Yesterday’s headline that the Cushing to Houston section of the Keystone pipeline would be “fast tracked” put spread reversals in the spotlight, as WTI gained while Brent and product prices finished with small losses. The technical outlook remains stuck in range-bound mode, although the slip up in stock prices we’ve had this week does hint that we’ll test the lower end of this range first.

CLICK HERE for a PDF of this morning’s charts

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