Commodities Help Canadian Dollar in Forex Trading
Loonie gets boost in currency trading on the FX marketBloomberg reports that the Canadian dollar is on the rise again in forex trading, thanks to commodities:
Canada’s dollar rose from the lowest in almost three weeks against the U.S. currency as prices of the nation’s commodity exports rebounded.
Because the loonie is a commodity currency, when its exports, such as oil and gold, gain in commodities trading, it receives support in currency trading on the FX market.
See Also
- More on Commodities
Commodities futures trading - Canadian Dollar in Forex Trading
Currency trading on the FX market
Source : GFT Forex
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