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Monday October 20, 2008 - 15:21:44 GMT
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Global-View - www.global-view.com
GVI Trading Outlook: Commodity Currencies, Oil and Gold for October 20, 2008: GVI Trading Outlook: Commodity Currencies, Oil and Gold for October 20, 2008:
- The commodity currencies (AUD, CAD and NZD) are trading mixed. The AUD and NZD have improved.
- The CAD is weaker ahead of an expected -50bp rate cut by the Bank of Canada tomorrow.
- Crude oil is higher ahead of the Friday emergency OPEC meeting. A production cut of 1mln BBD is seen. The incentive to cheat is strong with some oil producers strapped as they have spent what they didnâ€™t have. Gold is trading up modestly.
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