Shhh. Don’t tell the Fed, but that Down Dollar (The one that’s down five weeks in a row), well it's kick-starting that ‘ole 2011-2012 style inverse correlation to Commodity Inflation again.
Lovely.
Right now, Brent Oil vs. US Dollar has an inverse correlation of -0.66 on a 6-week duration. Both Brent and WTIC are up about 1% this morning after Brent held our Hedgeye TAIL risk support of $109.07/barrel. We covered our Oil short yesterday.
Great news for America as we head into the thick of winter with heating bills and all. Right?
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