Commodity FX (CAD AUD NZD NOK)

algorithms are per se rational and can never be insane

I look forward to see what will happen into next week, and see if the Aussie continues the uptrend in a more normal liquidity environment. I agree with chloe that we will likely see a small pullback by friday but not enough so that the year closes near the highs. Probably in January we may see another attempt at the highs or not, and it doesnt have to correlate with equities going lower first. Many times currencies move before the equity markets open the next day on the down side in NY. Also from what i see from the future contracts positions, the Aussie is extremely crowded on the long side contracts, and this always means its risky to go into long positions at these levels. Professionals are always patient and will wait for a pullback into a support level before re-entering, something to keep in mind. So I still think all this up move is still stop loss covering.

Below is a report by the Royal Bank of Canada which has AUDUSD seeing even 0.92 sometime during 2011. I am curious is anyone has forecast links from other sources for the major pairs?
http://www.rbc.com/economics/market/pdf/fmm.pdf

@forextrader, i doubt there will be much selling off until we get closer to fri close but it should stop the climbing in the aud..but ppt is in full effect an doing what they do best.if i could only get 1 more fund catylyst--mayb n/s korea could hit the news again ..:)gl

Yes it did fell to 54.4 in December from 55.3 in November. Bad news for the AUD
I will be surprise if it did not retreat 100 pips from it is high.
BTW Moved my stop loss to break even

@forextrader, what do u think of chinas pmi # just out.i see its a miss from the last mth # but there was no concesus given for this mth,but from what the aud is doing looks to be a bit neg-..thanks gl:)