Wednesday, January 13, 2016

Market rally did not last that long

The WTI light crude oil came back down to the 31.00. The main commodity currencies fall back down after starting the session to the upside. Even though the Australian Dollar and the New Zealand Dollar started the day to the upside, towards the end of the session the both fall versus the US Dollar along with the Canadian Dollar. The AUD/USD made a high around the 0.7049 level, but then it falls to the 0.6950 level. The NZD/USD made a high around the 0.6590 level, but it also falls to the 0.6520 level. The USD/CAD breaks above the 1.4300 level and it is coming close to the 1.4400 zone. We can clearly see that things have gone bad for commodities and its currencies.



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