An Indicator of the Canadian Dollar's Value
by
Kathy Lien
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It should come as no
surprise
that the
price
of oil actually acts as a
leading indicator
for the price
action
in the CAD/USD. Since the traded
instrument
is the inverse, or USD/CAD, it's important to
note
that based on the
historical
relationship
, when oil prices go up, USD/CAD falls.
Source:
www.investopedia.com
Tags:
forex trading
,
oil prices
,
US dollar
,
Canadian dollar
,
speculating
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