Reply #23: daily dollar watch

[UpInArms]

(and you guys rock!)

I guess the trip lag thing set in and here I am ... late to the party.

starting with the numbers

http://quotes.ino.com/chart/?s=NYBOT_DXY0

Last trade 87.17 Change +0.61 (+0.70%)

and then with some related articles

http://onenews.nzoom.com/onenews_detail/0,1227,248944-1-453,00.html

US draw drops oil prices

In London, Brent crude for March delivery shed $US1.23 cents, or 4%, at $US29.30, following New York's slide.

The big action was in US heating oil futures, which closed down 3.9%, or 3.75 cents lower, at US92.99 cents per gallon, and setting a record trading volume in the after-hours market with 5,718 contracts electronically traded after the regular session close.

Although the US Energy Information Agency on Wednesday said that distillate stocks, including heating oil, rose by 2.8 million barrels last week, bucking expectations that extreme cold in the US Northeast would have made a large dent in inventories, analysts said the shortage was yet to come.

<snip>

This is partly due to the slump in the value of the dollar on currency markets. Opec ministers have said the sliding dollar, the currency used in oil trading, means that producers need higher prices to protect their purchasing power.

Analysts also say speculative investment funds have pumped their money into oil and other commodities. Momentum has also come from booming demand in China.

The Opec cartel, which will meet in Algiers on February 10, will most likely decide to leave output unchanged, he said.

...more...

http://www.reuters.com/newsArticle.jhtml?type=businessNews&storyID=4118269

OPEC Calls for Halt to Oil Price Surge

LONDON (Reuters) - OPEC's president on Tuesday appealed for high-flying oil markets to stabilize as signals grew that sustained price strength will make it hard for the cartel to enact an expected supply cut next month.

U.S. crude has blazed to 10-month highs, topping $35 a barrel for the first time since the Iraq war, on fears that freezing U.S weather will strain crude oil stocks already at their lowest level since 1975.

"We are calling on all parties involved in the oil markets to take an initiative to keep prices stable in the position that represents producers and consumers," said OPEC President Purnomo Yusgiantoro, Indonesia's oil minister.

Prices have leaped $8 a barrel, or 30 percent, since OPEC's September decision to cut production by 900,000 barrels per day (bpd) or 3.5 percent from November 1.

OPEC ministers said last month that they expected to cut supply again at a February 10 meeting, fearing a surplus in the second quarter as demand declines after the northern winter.

...more...

and now a few (jumbled as they are) thoughts...

with the yen refusing to "lose" value as the BOJ has attempted to intervene in its rise and the dollar simultaneously gaining and gold stabilizing and gaining from yesterday's profit taking, there seems to be much more that we need to look at. There are some other aspects that must be discovered - because any investigator first must ask the most important question: Who profits?

Well, we know that the average US citizen has had most of his/her income disrupted by the current admin's policies (ie; lost jobs, low interest income on savings etc) so we need to look deeper into the financial markets and see where the money is flowing.

I will go and see what I can dig up and let you know what I find.

Things get curiouser and curiouser.