Recently I’ve been paying more attention to how oil prices affect currencies, and one thing I noticed is how strong the Canadian dollar (CAD) has been when oil goes up.
With all the tension in the Middle East and supply concerns, oil prices have been climbing again. From what I understand, since Canada is a major oil exporter, higher oil prices usually support the CAD.
At the same time, currencies like EUR and JPY don’t seem to perform as well in this situation, probably because they rely more on energy imports.
I’m still learning, but it’s interesting to see how these macro factors actually play out in the market. Makes me realize forex isn’t just charts — fundamentals matter too.
Curious if anyone else is watching CAD or trading XAU/USD alongside this move.
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