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 . . .
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 . . .
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