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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (20668)	7/29/2016 2:42:48 PM
From: Goose94	Read Replies (1) \| Respond to of 202448

Crude oil: Dollar weakens, helping crude. Oil prices stopped sliding at the end of the week due to a falling U.S. dollar. The Bloomberg Dollar Spot Index fell to its lowest level since July 1, after weak economic growth figures from the United States. A weaker dollar provided a slight boost to crude prices, following several days of large losses. "The dollar has weakened a lot and we’re at a technically supportive" level, Bill O’Grady, chief market strategist at Confluence Investment Management, said in an interview with Bloomberg. "We’re probably due for at least a bit of a recovery." On a related note, Goldman Sachs wrote this week that the largest threat to oil prices comes not from a glut of crude oil or refined products, but from a strengthening U.S. dollar. Concerns over global economic growth, the stability of the euro, and the potential rate hike from the U.S. Federal Reserve are providing strength to the greenback, which is bad news for oil prices.