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After the weakness recently in crude, we have...>

OIL
OIL: After the weakness recently in crude, we have seen a bit of stabilisation
so far this morning. The Brent 1st futures contract approached key levels
overnight, almost reaching the 38.2% retracement at $63.96 from the 2016 lows of
$27.10 to 2018 highs of $86.74.
- It is worth noting which currency pairs have tracked the moves in Brent
futures closest.
- On a one-month basis, NOKSEK has seen the strongest correlation at 67.5%,
followed by SEKCOP at 62.4%.
- On a three-month basis, NZDCAD has been the most correlated at 46.5%, followed
by RUBINR, AUDCAD and EURNOK.
- On a one-year basis, INRCOP, CADSGD, COPIDR, USDCAN, SGDNOK, SGDCOP and EURNOK
have all seen correlations of over 30%.

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