Monday December 8, 2008 - 16:34:38 GMT
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FZ Blog- GVI Forex Analysis: Commodity Currencies, Oil and Gold
Commodity Currencies, Oil and Gold
- The commodity currencies are trading higher. The AUD, CAD, NZD are higher in line with the weaker USD. The USD is being weighed down across the board by higher equities.
- The primary carry trade funding currency JPY is about steady vs. the USD. Stocks are currently up strongly following a strong overseas performance and a positive ckose on Friday.
- Crude oil has been given a lift by the better tone of the markets. It is still trading below old support at the $50.00 line. Gold is modestly higher. See the GVI calendar for the full schedule of data releases in the two weeks ahead.
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