Furtive signs of stabilisation - In the.......>

FOREX: Furtive signs of stabilisation

- In the final session of a particularly volatile week, Friday morning's been

somewhat calmer, with price action more reminiscent of position squaring and

return to some sort of stability with newsflow a little lighter. As such,

equities are in recovery mode, which has hindered the greenback, sitting at the

bottom of the G10 currency table so far. AUD, NOK and GBP are among the top

performers having been the most volatile currencies so far this week. GBP/USD

rallied to just shy of $1.19 and AUD/USD is back above $0.59.

- For the second consecutive Friday, the Norges Bank cut rates intermeeting -

this time trimming a further 75bps off the policy rate to alltime lows of 0.25%.

The NOK was relatively unresponsive, however, with the bulk of the focus on the

extent to which the bank will intervene in currency markets going forward after

their warning yesterday. Nonetheless, EUR/NOK has retreated back below 12.00.

- Canadian retail sales, US existing home sales and the details on the UK's

fiscal plan to combat the inevitable Coronavirus-induced slowdown are still to

come.