Virtually all aspects of the financial and political life of our planet influence the Forex currency market.

In fact, the commodity market is one of the most important factors, which has an impact on any currency value. The commodity market contains millions of positions, but traders most often work with precious metals, predominantly with gold. The price of gold maximally influences currency quotations. In the first place, “commodity” currencies of Canada, New Zealand, Australia, and Switzerland depend on it.

United States Dollar

The United States of America is the world’s second largest producer of gold. Nevertheless, in spite of this solid indicator, the precious metal cost growth leads to dollar depreciation. This kind of a paradoxical response prevails due to the world Forex financial market and milton markets participants’ special attitude to precious metals, which are considered to be a “safe haven” during crises being not only money equivalent, but also a limited commodity.

Australian and Canadian Dollars

As the demand for gold is satisfied by its producers’ currency, the Australian and Canadian dollars price rises during the increased agiotage. Therefore, the Canadian and Australian Dollars currency pairs should have a sufficiently strong potential for growth in relation to the US Dollar. Correlation of the prices is within 0.8 for these two countries’ currencies and is closely intertwined.

Swiss Frank

A robust relationship with gold is also observed in connection with the Swiss Franc. The reasons for this currency positive correlation with gold appear in other signs, though. In spite of the fact that this country does not possess large deposits of gold ore, the Swiss Franc is partially fixed to gold. Consequently, the demand for this currency grows as soon as sharp volatility erupts on the market.

Canadian Dollar and “black gold”

Oil prices also produce a huge impact on currency quotations. Importantly, they influence investors and the rest of the whole world including producers and consumers. Most 海外fx業者 believe the dependence of currency price on the price of oil of different brands to be more complex, and it is not the same stable as in the case of dependence on the gold price. The Canadian Dollar is among the number of currencies dependable on oil. The country produces much more combustible natural material than it can consume itself. That is why its main financial activity is oil exports. In case the market of “black gold” drops, the Canadian Dollar cost sharply dips as well. Respectively, the Forex market traders should also be guided by this principle, keeping in mind the positive correlation size to the US Dollar at a rate of 0.4.