Thursday November 20, 2008 - 17:00:24 GMT
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FX Blog- GVI Forex Analysis: Commodity Currencies, Gold and Oil November 20, 2008
Commodity Currencies, Oil and Gold
- The commodity currencies (AUD, CAD and NZD) are sharply weaker vs. the USD. The USD is mixed to higher against the major currencies. Risk aversion has been in play today.
- The carry trade funding currency JPY is higher vs. the USD. Stocks are currently somewhat weaker in a volatile session.
- Crude oil so far has held the $50.00 line. Gold is firmer. Some flight to safety gold demand could be developing. Weekly natural inventories were bearish.
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