 Good morning to CMC Espresso. Wow, there was quite some volatility in the price of crude oil yesterday It recovered quickly after it dropped more than a percent It spiked to new daily highs even quicker afterwards. That was kind of strange. Inventory data was bad this week We reached the resistance at $50 at this round price tag And the oil cartel OPEC didn't commit itself to a freezing oil production and prices started to drop Even the dollar was getting stronger. So the stage was set for the bears But as it turned out not this time technically Oriented trading systems stepped in to buy at the 20-day moving average to get their foot in a still technically sound uptrend in the end many had second thoughts on the OPEC press release as There were many oil producing countries saying that they are very willing to agree to a freeze in oil production So maybe maybe something is coming those kind of hopes and rumors have helped the price of oil to recover from around $35 to $50 and to push out short sellers, so Perhaps many or some at least thought why shouldn't it be good this time? Forex traders are advised today to watch the US dollar closely There will be non-form payrolls data coming out today as there was a strike from US telecoms company Verizon there could be a miss in the headline numbers by around 20,000 some at least expect that but Yeah, if you if you think about it, there might be a first Nietzsche reaction to the miss and then markets start digging deeper into the numbers and find out that it was just that one time strike That temporary effect and then they could quickly reverse So watch out Over and above that the swings in the dollar have become more and more influential to top-line top-line growth of US companies if you like you can overlay a Dollar chart with the development of revenue growth of US companies and you will find out that the correlation has become increasingly narrow Reason is the lack of real economic growth in the United States So the dollar plays an increasingly important role in the ups and downs of companies revenue growth Look at the dollar from February until just some weeks ago It decreased in value and that has in turn helped us and worldwide stocks to recover Meaningfully look at the same stocks now and put their performance in perspective with recent dollar strength And you will understand what I mean So the multi-month uptrend line in the euro dollar should better hold or else