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The happenings in the oil market continue to captivate investors to start the week but the reaction in other asset classes remains relatively calm, all things considered.
Negative oil prices.. The unimaginable just became a reality, much like the idea of negative interest rates or QE back in the day. What a world we are living in right now.
In other markets, stocks are still leaning to the downside after some spillover worries from the oil collapse yesterday. Margin calls, credit risks; all part of the picture when you see something quite unprecedented take place in the market.
As for major currencies, the yen and dollar are keeping in good spots for the time being but the most puzzling of all in my view is how the loonie is still holding up as it is now.
It is painfully annoying to be watching that unfold, but it is what it is. Meanwhile, other risk currencies are taking a bit of a hit today - not helped by RBNZ governor Orr's comments - as the market mood remains more tepid in the current environment.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.