United States Oil Fund (USO): USO up again. Seems like it's pushing up...

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Re: None

Wednesday, 04/19/2006 5:34:20 AM

Wednesday, April 19, 2006 5:34:20 AM

USO up again. Seems like it's pushing up with no resistance at all.

Here is an observation.

Since around July 2005 until today light crude traded in a band between roughly $60 to $70.

In the same time EUR/USD also traded in a range between roughly 1.1800 to 1.2300.

The interesting thing is, that the moves inside those bands are extraordinarily well correlated. (More than historically shown) It's almost identical.

Does somebody have a good explanation for that?

It seems strange for me since Euro is not a commodity. It should fundamentally trade completely different imo.

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