oussama94
05-28-2017, 00:47
Just like the AUD is affected by the price of
gold, the currency of a country like Canada
which is a large oil producer tends to be
affected by changes in the price of oil.
The Canadian dollar (CAD) usually strengthens
on increases in the price of oil, and weakens
when oil price falls. On the other hand, a
country like Japan which is heavily reliant on oil
imports benefits when oil is cheap, but is
negatively affected when oil prices rise.
gold, the currency of a country like Canada
which is a large oil producer tends to be
affected by changes in the price of oil.
The Canadian dollar (CAD) usually strengthens
on increases in the price of oil, and weakens
when oil price falls. On the other hand, a
country like Japan which is heavily reliant on oil
imports benefits when oil is cheap, but is
negatively affected when oil prices rise.