Alexander Aaron M Moore

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How does oil price volatility affect forex markets?

Oil-exporting countries like Canada (CAD), Norway (NOK), and Russia (RUB) see their currencies rise with oil prices. Institutions model oil-forex correlations for commodity-linked trades. Retail traders can monitor Brent and WTI as indicators. Benefits: predictable flows tied to energy demand. Risks: OPEC interventions and geopolitical shocks disrupt patterns. Example: 2014 oil collapse weakened CAD sharply. Oil reminds forex traders that commodities drive currency value as much as interest rates.