Tuesday December 23, 2008 - 15:30:02 GMT
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FX Blog- GVI Forex Analysis: Commodity Currencies, Oil and Gold - December 23, 2008
Commodity Currencies, Oil and Gold
- The commodity currencies are trading mixed vs. the USD. The AUD and kiwi are weaker and the CAD is higher. The USD is mixed vs. the major European currencies.
- The primary tradidional carry trade funding currency JPY is steady 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.
- February crude has broken through the psychological $40 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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