With stories and analysis pointing to fewer and fewer physical places to store crude oil coupled at the hip with an ever-strengthening dollar, it’s hard to get optimistic on the outlook for energy prices.
Shares in Lumber Liquidators continue to rebound and last traded higher by 11.2% at $36.40 following the company’s investor call on Thursday. Implied volatility on its options has fallen by 12.1% to 87.7% having reached 127% as a result of the recent scandal.
Whether the Reserve Bank of Australia wished to keep its powder dry or whether it simply did not want to ease at back-to-back meetings, the impact was to drive higher the value of the Aussie dollar Tuesday and push down uncertainty in the forex options market.
The double-digit-dollar decline in the value of Lumber Liquidators' shares has wiped more than 20% off the value of the company in the wake of Sunday’s 60 Minutes documentary alleging the U.S. retailer of hardwood flooring had installed Chinese-made laminate flooring containing formaldehyde at unacceptably high levels.