FxWirePro: Norwegian Krone near 3-month peak as oil rallies ahead of producer talks
The Norwegian Krone rose, extending gains for the nineth straight session as the U.S. dollar plunged to recent lows and crude oil prices surged. Crude oil prices rallied to multi-month peak as traders await cues from a m…
The Norwegian Krone rose, extending gains for the nineth straight session as the U.S. dollar plunged to recent lows and crude oil prices surged.
Crude oil prices rallied to multi-month peak as traders await cues from a meeting that could take place as soon as this weekend where major oil producers will discuss whether to extend record production cuts.
International benchmark Brent crude was trading 2.9 percent higher at $41.06 per barrel by 1007 GMT, having hit a high of $41.16 earlier, its highest since March 9. U.S. West Texas Intermediate was trading 2.6 percent up at $38.25 a barrel, after rising as high as $38.30 earlier, its highest since March 9.
USD/NOK trades 0.2 percent down at 9.3345, having touched a low of 9.2589 earlier, its lowest March 9.
Immediate resistance is located at 9.3901, close above could take it till 9.4126.
On the downside, support is around 9.2412 break below could take it till 9.2249.
