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FxWirePro: GBP/NZD extends drop, faces 23.6%fib support

FxWirePro-Crude Oil Daily Outlook

FxWirePro- Gold Daily Outlook

FxWirePro- ARUSD (Chart of the day)

FxWirePro :GBP/AUD gains some ground but bias is still bearish

FxWirePro- Major pair levels and bias summary

FxWirePro:EUR/NZD outlook weaker on renewed downside pressure

FxWirePro:EUR/NZD extends losses, as kiwi dollar firms

FxWirePro- Ethereum Daily Outlook

FxWirePro- Major Pair levels and bias summary

FxWirePro: EUR/AUD downside pressure builds, key support level in focus

FxWirePro- FTMUSD (Chart of the day)

FxWirePro:EUR/AUD dips below lower range, bearish bias increases

FxWirePro- Silver Daily Outlook

FxWirePro- Crude oil Daily Outlook

FxWirePro- Ethereum Daily Outlook

FxWirePro: GBP/NZD pauses decline, downside risk remains

FxWirePro: Norwegian Krone at 1-week trough as oil declines on demand recovery concerns

Thursday, October 15, 2020 10:35 AM UTC
  • The Norwegian Krone plunged to an over 1-week low, as crude oil prices slumped as new lockdown measures threaten demand recovery.

  • Crude oil prices tumbled as new restrictions to stem a surge in COVID-19 infections increased uncertainty over the outlook for economic growth and a recovery in fuel demand.

  • European countries are reviving curfews and lockdowns to try to contain the rise in new coronavirus cases.

  • International benchmark Brent crude was trading 2.9 percent down at $42.20 per barrel by 1024 GMT, having hit a high of $43.54 on Friday, its highest since September 18. U.S. West Texas Intermediate was trading 3.01 percent lower at $39.85 a barrel, after rising as high as $41.44 on Friday, its highest since September 18.

  • Moreover, a surge in the greenback against a basket of currencies and downbeat economic data further weakened the bid tone around the Norwegian currency.

  • Norway's trade deficit widened sharply to NOK 8 billion in September from NOK 1.3 billion in the same month a year earlier, recording its largest trade deficit since June.

  • USD/NOK trades 1.2 percent higher at 9.3482, having touched a high of 9.3724 earlier, its highest since October 7.

  • Immediate resistance is located at 9.3973, close above could take it till 9.4316.

  • On the downside, support is around 9.1997 (55-EMA), break below could take it till 9.1788.

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