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Low $60's as we forecasted and still looking strong... just wish the dollar was less of a chop-fest...

Hypothetically - appreciating dollar buys less oil.... But it doesn't look like that's going to happen in the near term. Iran missile launches, Nigeria attack threats, colder weather.... We're positioning for a rise to low 60's next week. Tuesday looks to be a reversal day technically with a...

Incompetence abounds.... The captain is not only asleep, he's drunk too.

Good points, SM. Inflation measures are lagging indicators by their nature. Now the Fed is actually rather vocal about their expectations of inflation subsiding. 2 weeks ago, there was still talk of more tightening, and now there's more emphasis on the timing of the Q1 rate cut (we say January).

Oil should bottom in the mid-50's. The dollar will likely see some strength in the very near term but should roll over once the foreign central banks step in with more tightening measures as the Fed gets set to cut.

Don't think you would find an economist out there who would agree w/ your 2.3% inflation = higher interest rate argument... The Fed follows the bond market which is pricing in a cut as early as Q1 of next year.

Agree with above post. Good ADP, declining jobless claims, strong job mkt according to Beige Book. See more in our published research note: http://www.fxstreet.com/technical/market-view/morning-market-comment/2006-11-02.html Positioning dollar long but will cut and run if unemp. rate...