OPEC and Yellen . . . .

[errolanderson]

http://www.cnbc.com/2016/12/10/non-opec-oil-producers-to-cut-output-558000-barrels-a-day.html

OPEC now has non-OPEC members agreeing to join the global oil production cut Non-OPEC members may cut an additional 600,000 barrel per day.

Now stir in Janet Yellen and the anticipated U.S. rate hike this week. If she does NOT hike due to huge risk of U.S. bond market losses, the Fed is clearly preparing for a U.S. recession in 2017.

In this scenario, the U.S. dollar would dive, adding steam to crude prices. (Crude priced in USD). Also, the CAD could rocket higher under this situation.

Volatility straight ahead . . .

[15444]

Drama boy should have some one in his staff with brains enough to know that the dollar has to continue to crater in this country to remain competitive with exporting after factoring in a carbon tax.

[errolanderson]

If the oil production deals can hold, the global surplus will disappear fairly quickly. The loonie would be supported (IMO). The Saudi royal family is desperate to rally oil prices . . .

The U.S. economy cannot tolerate (IMO) the recent sharp gains in the USD. This has been led by Trump promises and ideas of multi U.S. Fed rate hikes in 2017. If Yellen backs away from a rate hike this week, the USD could dive (IMO).

The Bank of Canada would not have much say if international investors buy the loonie en-mass.

[rockpile]

If the oil production deals can hold, the global surplus will disappear fairly quickly. The loonie would be supported (IMO). The Saudi royal family is desperate to rally oil prices . . .

The U.S. economy cannot tolerate (IMO) the recent sharp gains in the USD. This has been led by Trump promises and ideas of multi U.S. Fed rate hikes in 2017. If Yellen backs away from a rate hike this week, the USD could dive (IMO).

The Bank of Canada would not have much say if international investors buy the loonie en-mass.

Spot on Errol - 100% agree. There will be blood...

[Hopalong]

While a lower US dollar versus Canadian might be bad for our own prices, it

might mean less subsidy money going to their grain growers.

In recent weeks some of their prices have come close to loan deficiency payment levels.

Subsidized crop and revenue insurance payments might also be reduced.

[sumdumguy]

Withold fuel from any plane carrying Gore, Suzuki, Clintons and any other anti fuel lobbyist.

[errolanderson]

https://www.bloomberg.com/news/articles/2016-12-11/dollar-buoyed-as-fed-week-begins-while-oil-deal-bolsters-loonie?cmpid=linkedin.bbiz

Crude oil rips higher on OPEC deals, loonie up . . . .

[errolanderson]

Crude oil roaring, now up 5% early Sunday nite . . .

[ajl]

Oil rally lasted one day. The OPEC goofs will be back to cheating soon enough and the US shale industry is hoping OPEC holds so they can make a return on new investment. Non event. Had to be quick to take profits on this. 25 basis points of interest this week is priced in already and will be a yawner as well. Yellen needs to do it this week to put a stop to the game of will she or wont she. I do not foresee any more increases for a long while though.