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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3119
Posted: Feb 22, 2010 5:00
Comments: 3119
Forum Topic:
Commodity FX (CAD AUD NZD NOK)
Discuss Commodity FX (CAD AUD NZD NOK)
There was very little moment in the commodity-linked Australian, New Zealand and Canadian Dollars. Despite stronger equity markets early in the treading session, traders for the most part shied away from risky currency markets. Weak U.S. economic data most likely contributed to the lack of buying in these currencies.
The AUD USD is nearing a key resistance level at .8727. The current rally looks tired which could mean that another round of weak economic data will send it lower. The chart indicates there is room to the downside with .8377 the next likely downside target.
Short oil - in fact, short most markets!
Asad
i feel like BP and svanberg team are gonna come with a drilling plan in venezuela. that is the logical follow up in the industry
"ALLO PRESIDENTE" here is princessa
as long as oil move up and i think it will go 78ish cad will strenghen but on the mt i foresee 1.0650 for usdcad
Now i'll be more interested in the sugar coating that is to follow.
I agree !