The commodity currencies look before

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   The commodity currencies look before

CAD - Canadian dollar took a turn for the ugly to worse in H2 of last year on a constant downward revisions of the Bank of Canada and the appointment of Stephen Poloz as the new governor of the central bank . They came from the background of the export lobby , and Poloz wasted no time in making specific statements -CAD , which were negative for the currency . Said last month that the weakness of the Canadian dollar and the lack of sufficient Canadian exporters , leading to the interpretation that there may be a need for more than doubled.The Australian dollar AUD worst performing currency in 2013 behind the yen with the Reserve Bank of Australia Glenn Stevens talked down the currency of his country alone in the middle of the verbal interventions through Q4. The unemployment rate in Australia highs 4 and a half years at 5.8 % , prompting the RBA to cut rates to their lowest levels in 50 years at 2.0% . The tapering of the weight of China's growth path of 9-10 % to 7-8 % , as well as the prospects of reduced earnings from the giants of the Australian copper also . Weakness in copper prices and the Australian wheat to maintain under wraps , especially the failure of macro disappointment to the exclusion of more facilities RBA . He pointed out that the Australian dollar is near its lowest level cycle is one thing completely . Enhance near those lows for 3 or 4 months is something else entirely . The combination of USD hawkish and minerals recession is likely to extend losses towards 0.8550 Australian dollar .Was in the NOK-NOK 3 weaker currency in 2013 , and just stand in front of the Office of the Inspector General and the Japanese Yen . Although the Norges Bank did not cut interest rates since March 2012 , and continued anticipation for ease of deployment amid slowing inflation and falling oil prices . Slowed in December CPI to 2.0 % y / y more than expected from the central bank . Considering the ongoing risks of overheating housing prices , may consider the Norwegian Pat standing, especially given that there are two more reports CPI because of the decision by March 28. Considering that the low rates stand at 1.25 % ( September 2009 ) , and some traders conclude that rates should reconsider the cycle low before stabilizing .

MXN beyond the year 2012, and a

 positive baht in 2013 , being the currency in Mexico favored by most traders LATAM reforms before the country's energy and expectations of a rebound in its northern neighbor . And amendments to the Constitution to allow private companies to work independently or with a partner state oil giant Pemex through new types of contracts. This is expected to absorb foreign capital in new direct investment behind foreign capital inflows simply hot . Once that becomes a tapering Fed over priced in , and this could cap the rise of the dollar - especially against the peso is seen - in 2014 the GDP in Mexico more than doubled to 3.5 % from last year .
NZD - Please see the latest insider on the New Zealand dollar against the U.S. dollar , and the Australian dollar against the U.S. dollar in the USDCAD our visions Premium.Click to enlargeCommodity currencies look prior - January 16 kms performance logo ( Chart 1