Tuesday December 2, 2008 - 16:32:01 GMT
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FX Blog- GVI Forex Analysis: Commodity Currencies, Gold and Oil December 2, 2008
Commodity Currencies, Oil and Gold
- The commodity currencies are now trading mostly modestly higher as they continue to take direction from equity markets. The commodity currencies (AUD and NZD) are better vs. the USD. The CAD is about steady. The USD currently is now mostly lower against the major currencies on a risk assumption play.
- The carry trade funding currency JPY is weaker the USD. Stocks are currently higher.
- Crude oil is weaker and trading below old support at the $50.00 line. Gold is up modestly. See the GVI calendar for the full schedule of data releases in the two weeks ahead.
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