Forex Strategies

Daily FX Update

Risk aversion re‐enters markets as oil prices continue to fall,

Today’s highlights: EURUSD has fallen back to weigh on the 1.1754 recent low.

The NZD continues to lose ground, off by 0.9% currently to be the worst-performing major currency.

Oil markets remain the core focus, and with fresh lows hit in both Brent and WTI,

NOK is set to gain against SEK, which should do well against GBP.

Today’s highlights: USDCAD remains in a solid uptrend for 1.2000 next, then the 78.6% retracement barrier at 1.2280.

The NZD was caught up in a commodity-currency sell-off overnight, and sits 0.8% lower this morning at 0.7770.

Brent oil falling to fresh lows of $48.47 and the spread between Brent and WTI narrows to just $1.5;

The NZD edged higher on Friday night to close 0.1% stronger at 0.7840.

Markets are anticipating a reasonably strong nonfarm payroll release of 240k,

The NZD trades a little higher this morning, at 0.7820.

Oil prices are low, with WTI at $49 and Brent at $51; however today is the first day