The big question for oil is whether the current bounce in prices represents a reversal back into a more bullish longer-term phase after a long-term low, or whether it is just a kind of ‘dead cat’ bounce.
The Australian Dollar stabilised following an overnight slump on Tuesday but the outlook is growing more uncertain as commodity price headwinds return to haunt the currency.
The New Zealand Dollar is well below what it should be according to bank estimates but rather than expecting it to recover, analysts see the currency as down and out.