Ads By CbproAds

Canadian Dollar Gains in Forex Trading

May 21st, 2008 | Category: Forex

Oil prices help the loonie in currency tradingThe Canadian dollar is on the rise again in forex trading on the currency market. Thanks to rising oil prices, the loonie is making solid gains in currency trading.

The Canadian dollar relies in great measure on commodities, like oil, for support in forex trading. And oil is particularly profitable since the US actually gets most of its oil from Canada.

In

the short term, the loonie is likely to continue to do well in currency trading on the FX market. However, forex traders should be on the look out for a correction. Volatility in the Canadian dollar is likely to increase as volatility in oil prices increase.

See Also

Original post by Eric J. Fox

No comments yet. Be the first.

Leave a reply

You must be logged in to post a comment.