USoil continued to fall on increasing travel bans as Omicron cases keep being detected at random. Crude plummeted to a 3-month low at $66.90 and it is likely to remain under pressure amidst November’s contract expirations.
Meanwhile, demand for currency have not increased as the new variant adds to inflation concerns and how central bank rhetoric may be affected. As a result, the yen strengthened to levels not seen in three weeks against the dollar, fighting with 113 during Tuesday’s session.
The shift of flows from risk to haven assets has affected commodity currencies and has evidently taken the prices of the kiwi lower despite RBNZ hiking last week. The New Zealandian currency experiences a relief rally following a bounce at 0.68 currently, however, it is unlikely to last long.
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The Daily Markets Watch: USOIL, USDJPY & NZDUSD (30.11.21)
USoil continued to fall on increasing travel bans as Omicron cases keep being detected at random. Crude plummeted to a 3-month low at $66.90 and it is likely to remain under pressure amidst November’s contract expirations.
Meanwhile, demand for currency have not increased as the new variant adds to inflation concerns and how central bank rhetoric may be affected. As a result, the yen strengthened to levels not seen in three weeks against the dollar, fighting with 113 during Tuesday’s session.
The shift of flows from risk to haven assets has affected commodity currencies and has evidently taken the prices of the kiwi lower despite RBNZ hiking last week. The New Zealandian currency experiences a relief rally following a bounce at 0.68 currently, however, it is unlikely to last long.
Trade with an award-winning broker! Lowest spreads on the market for Forex, Precious Metals, Energies. No re-quotes, no rejection of orders & instant withdrawals.
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