Skip to main content

Gold Correlations with Currency Pairs


Forex Currencies and Gold shares important correlations as follows:


Gold and USD
During times of Economic Unrest, investors shows lack of interest in Dollar(USD). Hence, when gold goes up, USD falls.
Gold and AUD/USD
Australia is the third largest gold producer in the world, selling approx. $5Billion/year. So AUD/USD raises when gold goes up.
Gold and NZD/USD
New Zealand is also one of the biggest gold producer in the world. With gain in gold, NZD/USD also goes up.
Gold and USD/CHF
CHF raises when gold goes up as 25% of Switzerland's reserve are backed by gold and pair moves down.
Gold and USD/CAD
CAD raises when gold goes up as Canada is 5th largest producer of gold. Hence, when gold raises up, USDCAD goes down
Gold and EUR/USD
Both Gold and Euro are ANTI_DOLLARS. If price of gold goes up then EUR/USD may go up as well.
Oil and USD/CAD
CAD raises when Oil goes up as Canada is one of the top Oil Producer that exports 2 Million Barrel/Day . USDCAD goes down with the rise in Oil.
Join 300,000+ traders who stay ahead of the market, submit your details with us by filling our CONTACT FORM.
For the Best Forex Signal| Accurate Stock Signal| Profitable Comex Signals,Try Equidious Research Services. We have a team of best and well experienced Research Analysts.
Subscribe Best Forex Signals in 2019 and Best Comex Signals and Experience the great returns by yourself.
Trading is an art of making handsome amount.
Enjoy Trading!
Labels:

Comments

Post a Comment

Popular posts from this blog

Trade War : Will it be helpful for US economy & sagging Dollar ?

De-globalization is the idea which picked up energy after BREXIT. Trump’s choice to force duties of 25% and 10% on steel and aluminum import will add to de-globalization talk. US, under Trump, has hauled out of Trans Pacific Agreement and began arranging NAFTA. Worldwide exchange has begun redirecting from way of multilateral exchange settlement to plurilateral exchange agreement. Forcing of levy by Trump, in bearing of US first arrangement, is probably going to harmed US and different economies associated with related exchange with Uncle Sam. Canada, Brazil, EU, China, Russia, UAE are the significant nations who are enjoyed exchange of both the wares. Car and development industry expends near 65-70% of US steel request. As per an article distributed in Reuters, a normal US vehicle devours 1-1.2 ton of steel .US steel generation cost is in the middle of $825-875 for each ton. In the event that we consider, imported steel cost in the middle of $650-750, 25% import ...
Post a Comment
Read more

Learn Forex Carry Trade Strategies

What is a Carry Trade? A  carry trade  is when you buy a high interest currency against a low interest currency. For each day that you hold that trade your broker will pay you the interest difference between the two currencies as long as you are trading in the interest positive direction. Carry Trade Offers Two Ways To Profit The forex carry trade is a type of strategy in which traders sell currencies of countries with relatively low interest rates, and use the proceeds to buy currencies of countries that yield higher interest rates. Forex carry trading leverages the differences in interest rates between countries. For example, one country’s central bank may lower interest rates in order to create economic stimulation, while the central bank in another country maintains higher interest rates. In effect, the forex trader borrows money in one country with a lower interest rate, and invests it in another country with a higher interest rate, and keeps the differ...
Post a Comment
Read more

Know More About- Commodity Currencies Trading

Currencies of countries that rely heavily on the export of  commodities  are often referred to as  commodity currencies . An important factor that any  forex trader  should consider is that the value of commodity currencies usually rise and fall in tandem with the value of the country's main commodity exports. What Are Commodity Currencies and Pair: Both the value of the  commodity  and the country's trade balance, with respect to the commodity, are significant factors in the valuation of commodity currencies. The most commonly traded commodity currencies are: Canada (CAD) New Zealand (NZD) Australia (AUD) The three  commodity pairs  are: USD/CAD AUD/USD NZD/USD These  pairs  are highly correlated to  commodity  fluctuations in the world markets and are the most heavily traded  commodity pairs  in  forex .  Forex  traders often trade these  commodity pairs  to gain expos...
Post a Comment
Read more