Thursday December 11, 2008 - 16:41:54 GMT
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FX Blog- GVI Forex Analysis: Commodity Currencies, Oil and Gold for December 11, 2008
Commodity Currencies, Oil and Gold
- The commodity currencies are trading broadly higher vs. the USD. They have advanced in line with the weaker USD. The USD is being weighed down by poor economic data early in NYC.
- Australian November employment data feel by -15,600 to 4.4%. This was pretty much as expected
- The primary carry trade funding currency JPY is firmer vs. the USD in line with the broad USD weakness.
- Crude oil has gained today. It is still holding 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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