Monday December 22, 2008 - 16:11:03 GMT
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FX Blog- GVI Forex Analysis: Commodity Currencies, Gold and Oil December 22, 2008
Commodity Currencies, Oil and Gold
- The commodity currencies are trading mixed vs. the USD. The AUD is about steady and the CAD is higher. The fiwi is weaker. Obviously there is no pattern. USD has started to recover vs. the major European 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.
- Near dated crude is approaching ti $40 line after January crude fell off the table Friday as it matured. Gold is now modestly firmer. See the GVI calendar for the full schedule of data releases in the two weeks ahead.
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