As Goes Oil....

• oil prices have "stabilized" after testing support at just below $45.
• The down-trend is still intact, but there is some price "exploration" happening between $50 to $55.
• It will take some significant buying to change the trend, but for the moment, there is some consolidation of price expectations.

So Goes the $C

• As is frequently the case, in the short-run, the $US/$C relationship tends to trade with some synchronization.
• In similar fashion, the $C has stabilized at or about 1.25 (or 0.80 $US)
• As the US is Canada's largest trading partner, this is the most important relationship and certainly a key focus for the Bank of Canada.
• This afternoon Deputy Governor Wlikins will speak and this may give some clues to BOC thinking going forward.

Interestingly, the C$ continues to improve vs. the Euro:

• Travelling this summer?
• Perhaps it is time to visit Europe!!

The views expressed are those of the author, Scott Tomenson, a Raymond James Financial Advisor, and not necessarily those of Raymond James Ltd. It is provided as a general source of information only and should not be considered to be personal investment advice or a solicitation to buy or sell securities. Investors considering any investment should consult with their Investment Advisor to ensure that it is suitable for the investor's circumstances and risk tolerance before making any investment decision. The information contained in this blog was obtained from sources believed to be reliable, however, we cannot represent that it is accurate or complete. Raymond James Ltd. is a member of the Canadian Investor Protection Fund