empty
10.04.2019 02:12 AM
The dollar falls, oil prices increase, Norway raises the stakes

This image is no longer relevant

The dollar was crushed by weak economic data from the United States, and it just happened during the growth of the so-called commodity currencies, as a result, it may seem that the dollar has critically subsided. Commodity-related currencies, such as New Zealand, Canadian and Australian dollars, were supported by rising oil prices. What is happening with the dollar helped pull up the euro, as investors redistributed their positions in anticipation of the ECB meeting. Every day it becomes harder for the greenback to hold the bar. The US dollar's strength reached its peak by the end of last week, but after US employment data showed a slowdown in wage growth, the currency could not find support. Even the recent rebound in US government bond yields did not provide the necessary impetus, and the yield itself is still well below recent highs.

This image is no longer relevant

Oil prices soared to a five-month high on expectations that global supplies would fall due to the fighting in Libya, OPEC actions and US sanctions against Iran and Venezuela. Topics such as the US-China trade negotiations and Brexit are no longer as relevant and do not particularly affect the foreign exchange market, but the surge in oil prices has become a reason to focus. At the same time, an interesting situation is emerging in Norway. The Norwegian krone continued to grow and reached 8.543 per dollar after rising 0.7 percent on the previous day amid rising oil prices. The krone is supported by Norges Bank Governor Oystein Olsen's statement that the central bank will continue raising interest rates in the coming months. Oil-rich Norway, unlike other developed countries, can afford to tighten monetary policy due to higher oil prices and faster than expected growth and inflation.

This image is no longer relevant

Irina Maksimova,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trump acts, markets react: Nikkei up 2%, USD rallies

The Nikkei surged more than 2%, S&P 500 futures extended their rally, and the dollar jumped after US President Donald Trump said he has no plans to fire Fed Chairman

12:35 2025-04-23 UTC+2

US Market News Digest for April 23

The US market is showing renewed signs of instability. Positive signals about a potential de-escalation in the trade conflict with China are fueling hope, but experts warn against excessive optimism

Ekaterina Kiseleva 12:17 2025-04-23 UTC+2

Trump says markets react: Nikkei up 2%, dollar strengthens, China awaits outcome

Nikkei jumps more than 2%, S&P 500 futures continue rally Dollar jumps as Trump says he has no plans to fire Powell Hopes for China tariff easing, but no deal

Thomas Frank 10:52 2025-04-23 UTC+2

US Market News Digest for April 22

The S&P 500 and Nasdaq 100 continue to slide as mounting concerns over slowing economic growth and the impact of trade tariffs weigh on sentiment. The market remains volatile, with

Ekaterina Kiseleva 11:13 2025-04-22 UTC+2

Trump, Fed, and gold at $3,000? Markets respond to alarming signals

Investors are worried about the Fed's independence under Trump. US assets are falling, and the dollar is at a three-year low against the euro. Safe-haven currencies like

11:46 2025-04-21 UTC+2

US Market News Digest for April 21

The S&P 500 and Nasdaq slipped once again after Donald Trump lashed out at the Federal Reserve. His comments called the independence of the central bank into question, amplifying inflation

Ekaterina Kiseleva 11:41 2025-04-21 UTC+2

Trump, Fed, $3,000 Gold? Markets React to Red Flags

Investors Worried About Trump Fed Independence US Assets Fall, Dollar Hits Three-Year Low Against Euro Safe-Haven Yen, Swiss Franc Rise Gold Hits New Record High South Korea Stock Market

Thomas Frank 10:18 2025-04-21 UTC+2

US Market News Digest for April 18

Donald Trump ratcheted up his criticism against Federal Reserve Chairman Jerome Powell, once again calling for an immediate interest rate cut. This renewed political pressure adds to the tensions surrounding

Ekaterina Kiseleva 12:09 2025-04-18 UTC+2

When Giants Fall: How Alphabet and UnitedHealth Decisions Hurt the Market

Trading on U.S. stock markets ended in disarray on Thursday, with positive news from tech giants and pharma companies colliding with interest rate concerns. Market participants wavered between hopes

Thomas Frank 11:56 2025-04-18 UTC+2

Powell in danger? Can Trump fire Fed Chair and what does that mean for markets?

Donald Trump has once again set his sights on the Federal Reserve, accusing its chairman Jerome Powell of failing in monetary policy and threatening to fire him. But what lies

Аlena Ivannitskaya 08:43 2025-04-18 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.