Monday December 15, 2008 - 16:06:38 GMT
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FX Blog- GVI Forex Analysis: Commodity Currencies, Gold and Oil December 15, 2008
Commodity Currencies, Oil and Gold
- The commodity currencies are trading broadly higher vs. the USD. They have advanced in line with the seasonal wekness of USD.
- The primary carry trade funding currency JPY is firmer vs. the USD. A week or so ago, the JPY would trade inversely with the behavior of equities.
- Crude oil has gained today. It tested the $50.00 psychological resistance line earlier ($50.04 high), but resistanc held. Gold is higher. See the GVI calendar for the full schedule of data releases in the two weeks ahead.
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