Saturday, August 01, 2009
It's not clear what it is about this weekly chart in the Wall Street Journal that fascinates me so, but fascinate me it does. In a week when the dollar was the only loser, the 52-week columns begin to take on a whole new look that will persist through the end of the year.
What's the new look? Well, you can get an advance peek at this by fast-forwarding to December using current prices for both crude oil and the U.S. dollar. Instead of the -44.5 percent decline in the price of crude and +7.2 percent advance for the greenback as shown above, you'd see something closer to +100 percent for oil and -12 percent for the dollar.