It’s not hard to understand why we’ve experienced a
For example, if gold breaks an important price level, one would expect gold to move higher in coming periods. With this in mind, forex traders would look to sell dollars and buy Euros, for example, as a proxy for higher gold prices. Moreover, Spiderman Bounce House Slide higher gold prices frequently have a positive impact on the currencies of major gold producers. For example, Australia is the world’s third largest exporter of gold, and Canada is the world’s third largest producer of gold. Therefore, if you believe the price of gold will continue to rise you could establish long positions in Australian Dollar or the Canadian Dollar — or even position to be long those currencies against other major countries like the UK or Japan.
How does this impact the Forex?
Canadian and Australian dollars will strengthen as they are gold producers. Take this into account.
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