Don't you think that it is possible that oil costs so much because it is priced in the ever weakening dollar? Since the correlation between crude and EUR/USD is -0.7...
Forgot to add the chart to my above post. PS: It seems to be moving down. I should have load more on the short side.
sounds right. don't forget yesterday's data more deflation for eurozone = more pressure to lower interest rates.
Just found this thread, brilliant predictions OT. Do you think it will still continue to go down or do you think it's gone down enough for now?