Over the last couple of days the dollar strengthened  against the euro, which was accompanied (as one might have expected) with a decline in the price of oil. It was then natural that the price of stocks in the oil/energy sector would affected, as for instance  indicated in today's lower closing price of the XLE ETF (select energy sector EFT stock).

In the next couple hours the President of the European Central Bank plans to hold a press conference in connection with the euro interest rate decision. A hike in interest rates for the Euro might lead to a rise in the price of the eur-usd currency pair, which could lead to a weakness in the dollar, and  a rise in the price of oil (to  reflect a possible implied weakness in the dollar).

The press conference is scheduled at around 8PM (about the time the stocks end their after hours trading session on the news schedule of a forex currency dealer) which  seems to be strange at it is night in europe.
Maybe the forex currency dealer/broker has a glitch in the news timeline of their currency charts.

The interest rate decision is expected on Thursday morning (July 7, 2011).

 A rise in eur/usd could then lead to a rise in XLE. The components and weightings of XLE as of 7/5/11 is included below. The stock list is organized in decreasing order of percentage weighting.

Name    Stock Symbol


Exxon Mobil Corp. XOM

Chevron Corp. CVX

Schlumberger Ltd. SLB

CONOCOPHILLIPS COP

Occidental Petroleum Corp. OXY

Halliburton Co. HAL

Apache Corp. APA

Anadarko Petroleum Corp. APC

National Oilwell Varco Inc. NOV

Baker Hughes Inc. BHI

Devon Energy Corp. DVN

EOG Resources Inc. EOG

Marathon Oil Corp. MRO

Hess Corp. HES

Chesapeake Energy Corp. CHK

Williams Cos. WMB

El Paso Corp. EP

Spectra Energy Corp. SE

Pioneer Natural Resources Co. PXD

Peabody Energy Corp. BTU

Noble Energy Inc. NBL

Valero Energy Corp. VLO

Cameron International Corp. CAM

Southwestern Energy Co. SWN

FMC Technologies Inc. FTI

Consol Energy Inc. CNX

Murphy Oil Corp. MUR

Denbury Resources Inc. DNR

Cabot Oil & Gas Corp. COG

Marathon Petroleum Corp. MPC

Range Resources Corp. RRC

Rowan Cos. Inc. RDC

Nabors Industries Ltd. NBR

Sunoco Inc. SUN

Tesoro Corp. TSO

Alpha Natural Resources Inc. ANR

Noble Corp. NE

Newfield Exploration Co. NFX

Diamond Offshore Drilling Inc. DO

EQT CORP. EQT

QEP Resources Inc. QEP

Helmerich & Payne Inc. HP

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