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  1. The rising relation between crude oil and USD/EURO 1999-2010

    by , 01-19-2011 at 08:10 AM
    The recession, which started during 2008, in the US and later on spread to Europe and other major countries, have had an effect on the correlations among crude oil price and major currencies.

    I will show in this short analysis the relations among major currencies and US dollar to petroleum price (WTI), by presenting the correlations of these indexes' month to month percent changes during 2010.

    Further, I will show the correlation between US dollar euro rate (EUR/USD) and crude oil price month to month percent changes over the last decade (1999-2010).

    These data will confirm two things that are usually assumed in the market:

    1. There is a strong correlation in 2010 among crude oil ...
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  2. News in 60 Seconds: The Baltic Dry Index falls for a 34th day in a row!

    by , 07-14-2010 at 10:09 AM (News in 60 Seconds)
    Biggest % gainers: USD/ZAR up 0.77%, GBP/AUD, GBP/CHF, USD/CAD, GBP/USD on GBP strength and commodity currency weakness.

    Biggest % losers: CAD/JPY down 0.86%, AUD/JPY, NZD/JPY, EUR/JPY, CHF/JPY on JPY strength and commodity currency weakness.

    Gold $1,207
    Oil $76.72

    NZD Retail Sales m/m came out worse than expected last night, weighing on the commodity currencies this morning.

    French Bank Holiday today...in observance of National Day.

    GBP Claimant Count change better at -20.8K vs. -20.1K expected and -31.1K last time.

    EUR CPI y/y in line at 1.4% as expected and same as last time.

    USD Core Retail Sales m/m in line at -0.1%. Last ...
  3. News in 60 Seconds: Moody's cuts Portugal's Credit Rating!

    by , 07-13-2010 at 09:59 AM (News in 60 Seconds)
    Biggest % gainers: GBP/USD up 0.73%, GBP/AUD, GBP/JPY on GBP strength.

    Biggest % losers: USD/ZAR down0.71%, USD/CAD, EUR/GBP, EUR/CAD on GBP strength and some CAD strength. The South African rand is strong too, so the commodity currencies are strong at the moment.

    Moody's cuts Portugal's Credit Rating. http://www.dailyfx.com/forex/market_...l_Debt_to.html

    Gold $1,216 perking back up.
    Oil $76.56

    GBP CPI y/y inline at 3.2% but lower than 3.4% last time.

    EUR German ZEW Economic Sentiment worse at 10.7 vs. 16.8 expected and 18.8 last time.

    CAD Trade Balance worse at -0.5B vs. 0.0B expected and -0.3B ...
  4. News in 60 Seconds: Bernanke speaks at 10am EST today!

    by , 07-12-2010 at 09:39 AM (News in 60 Seconds)
    Biggest % gainers: USD/CHF up 0.62%, GBP/CHF on CHF weakness.

    Biggest % losers: CHF/JPY down 0.57%, EUR/JPY, EUR/USD on CHF weakness and EUR weakness.

    Gold $1,204
    Oil $76.22

    AUD Home Loans m/m came out better than expected at 1.9% vs. 0.7% expected. Last time improved to -1.5% from -1.8% previously.

    GBP Final GDP q/q in line at 0.3% and same as last time.

    USD Bernanke speaks at 10am EST today.

    CAD BOC's Business Outlook Survey comes out at 10:30am EST today.

    Sean Hyman
    DailyFX Forum Moderator
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