Baytex Energy Corp T.BTE

FX Rate...oil and fx

[BayStreetWolfTO]

It really is interesting to watch F/X....in the old days the dollar would track oil

As of now in CAD$

WTI $132.10 CAD$
WCS $115.74 CAD$

That is something else.

[Cobalt]

All starts with the USD massive head wind right now , due for a counter trend rally then short yen to 150 :)

[Chrisinvan7]

USA is halfway to a recession and the fed has only hiked 25 bps and hasnt even begun shrinking the balance sheet. The question is, how much economic weakness will the fed tolerate before they reverse course and start QE 7 or whatever round is next. Once the fed throws in the towel and surrenders to inflation, the dollar is toast, gold will skyrocket and the next big leg up for oil will start.

[Cobalt]

That GDP print was very misleading last 1/4 nobody sees it as halfway , market still sees 50,50,50 then we see

[Chrisinvan7]

I think most observers are in denial and dont realize these massive trade deficits are only getting bigger and inflation is going to put alot of people into the unemployment line as co's take measures to reduce costs.  We'll see if the fed gets three rate raises in as the markets continue to tank and go deeper into bear territory, it is an election year afterall, though there's

[Cobalt]

Consumers have more cash then ever and for now are paying the the hikes by compaines they are passing them through earnings are fine. More open jobs then unemployed and as you say Huge election , Recession could be a 2023 story odds are still only a 1/3 from the calls i see , I'm more 50/50 2023 for now