Thursday December 18, 2008 - 16:38:58 GMT
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FX Blog- GVI Forex Analysis: Commodity Currencies, Oil and Gold for December 18, 2008
Commodity Currencies, Oil and Gold
- The commodity currencies are trading mixed steady vs. the USD. The AUD and NZD are higher and the CAD is about steady. The USD is now broadly higher against the major currencies.
- The primary carry trade funding currency JPY is weaker vs. the USD. The carry trade is off the board for the moment. The JPY is only sporatically trading inversely with equities. The EUR/JPY linkage is not much tighter today.
- Near dated crude has broken decisively through the $0 line. Gold is now modestly lower. See the GVI calendar for the full schedule of data releases in the two weeks ahead.
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