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U.S. Dollar Outlook

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Crude oil and USD direction weekly report

Mon, Jun 22 2009, 10:42 GMT
by Tanunchai Jumnongpukdee

Z-forecasting


USD direction

  • Now it is waiting FOMC rate decision on wed June 24.
  • Then, we should see usd may not move before FOMC rate decision.

Crude oil

  • It may go down to test 65-66 level again, or 63 as a very lowest bottom.
  • However, oil may be choppy rathan go down sharply.

Trading strategy

  • Let's see what happening when FOMC announcement on June 24.
  • Hence, consider to establish positions of FX positions and crude oil again.

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