Crude oil prices typically are a good example of this. Canada is generally thought of as the currency to benefit most from rising oil prices because it exports so much oil. Alternatively, the United States often is hindered from rising oil prices as consumers cut spending on other discretionary items to make up the difference.
The Aussie and Canadian dollars react most quickly to commodity changes. If demand is up, the Aussie and Canadian tend to see the benefit of the rise.
As you can see in the diagram below, the Aussie has an interesting correlation to the gold price. (more on this subject can be found in futuresmag.com)
Emergination
Comments
Post has no comments.