Monday November 10, 2008 - 16:44:06 GMT
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FX Blog- GVI Forex: Commodity Currencies, Oil and Gold for November 10, 2008
Commodity Currencies, Oil and Gold
- The commodity currencies (AUD and NZD) are trading higher vs. the USD in the wake of the massive Chinese stimulus program. The CAD responded positively initially on hopes of increased commodity demand but it since has tailed off in line with a mostly higher USD.
- The JPY is still trading weaker in response to an increased risk assumption play.
- Crude oil has improved on the same factors. Gold is higher as well.
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