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Gold up, oil down, risk off

By   || June 6, 2010 at 23:27 GMT
|| 12 comments || Add comment

Gold is nearly $4 higher today, currently trading at $1222/oz, oil is over 1.5% lower to almost $70/bbl and risk is off in the FX markets, best shown by the fall (and lack of meaningful bounce) in the AUD/JPY. Most traders will now await the Nikkei open for the next significant indication.

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12 Responses to “Gold up, oil down, risk off”

  1. yestrade on June 6th, 2010 23:48 GMT

    AUD is the weakest commodity currency, losing twice as much as CAD and NZD. Short it on bounce. Should break .80 this week.

  2. Loouise on June 7th, 2010 00:01 GMT

    Covered my EurJpy shorts – I will wait for the London session to decide on the next trade

  3. thinktt on June 7th, 2010 00:07 GMT

    good decision loouise. I would do the samething. good luck for your next trade.

  4. talal on June 7th, 2010 00:15 GMT

    its a one side trip now loouise

  5. Loouise on June 7th, 2010 00:18 GMT

    EurJpy is now very very very very oversold – buying is not the right trade however – shorting rallies is the correct trade – I’ll be hoping to get some nice shorts at 111.00 levels maybe in London or NY session

  6. talal on June 7th, 2010 00:18 GMT

    Hi sean have the bids at 1.1920 been filled

  7. fms on June 7th, 2010 00:21 GMT

    it’s not going to get so far up. if it hits 106.50 in the morning (my morning, gmt) i’ll sell jpy then wait to see IF a clear spike appears. too tight.

  8. Sean Lee on June 7th, 2010 00:29 GMT

    All filled Talal, not much on order boards now until option levels 118 and 11750

  9. Loouise on June 7th, 2010 00:29 GMT

    Yes it will — might happen in 1/2 sessions however.

  10. talal on June 7th, 2010 00:36 GMT

    these eur/jpy shorts are just working fine already +100pips

  11. talal on June 7th, 2010 00:39 GMT

    sean are there any strong bids in usd/jpy around 91.00

  12. Sean Lee on June 7th, 2010 00:53 GMT

    haven’t heard anything there Talal

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