PoO looks like it has bottomed at $US45 WTI last month. It has also broken the 50 day MA.
http://quotes.ino.com/charting/index.html?s=NYMEX_CL.H15.E&t=&a=&w=&v=d12
http://www.marketoracle.co.uk/Article49354.html
The USD index appears to have peaked at 95. If it gets stronger this will make US exports too expensive.
http://quotes.ino.com/charting/index.html?s=NYBOT_DX&t=&a=&w=&v=d12
US CPI has been negative for both Nov and Dec 2014. This is price deflation driven by lower oil prices and a strong USD making imports less expensive. This trend can't continue and the US Fed/Treasury will find a way to decrease the USD especially since the BoJ and ECB continue doing QE devaluing the yen and Euro.
http://www.bls.gov/cpi/cpid1412.pdf
The strong USD is starting to hurt small and medium sized US firms which account for a third of US exports. Once the US Fed takes action to devalue the USD the PoO should increase strongly which will help SWE SP.
http://www.globalpost.com/dispatch/...xes-mid-sized-us-exporters-local-demand-helps
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