Gold (XAU/USD) is on a record-breaking spree, hitting yet another all-time high near $4,380 on Friday as investors seek a reliable store of value amid geopolitical, economic and fiscal uncertainty.
The Swedish krona is the second-best performer this week, rising even more than the euro as equities sold off yesterday. This sounds rather odd given SEK’s usually high beta (especially relative to the euro) to risk assets, ING's FX analyst Francesco Pesole notes.
West Texas Intermediate (WTI) Oil price extended its losses and recorded a fresh five-month low of $56.52 during the Asian hours on Friday, currently trading around $56.70 per barrel. Crude Oil prices depreciate amid rising concerns over global energy supplies.