Wednesday December 10, 2008 - 16:03:52 GMT
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FX Blog- GVI Forex Analysis: Commodity Currencies, Gold and Oil December 10, 2008
Commodity Currencies, Oil and Gold
- The commodity currencies are trading higher. The AUD, CAD, NZD are better 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 weaker vs. the USD in line with the bounce in equities. Increasingly share prices should be dominated by end of year considerations.
- Crude oil has eased in the wake of weekly energy inventories. It is still holding well below the $50.00 psychological resistance line. Gold is higher. See the GVI calendar for the full schedule of data releases in the two weeks ahead.
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