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Stocks & Commodities V. 33:12 (1214, 1618, 46): Trading The Loonie by Markos Katsanos
Stocks & Commodities V. 33:12 (1214, 1618, 46): Trading The Loonie by Markos Katsanos
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Trading The Loonie by Markos Katsanos
Heres a trading system that exploits the strong correlation between the Canadian dollar and crude oil.
The Canadian dollar (affectionately referred to as the loonie by traders because of the appearance of a loon, a bird common in Canada, on the back of the Canadian one-dollar coin), like the Australian dollar, the New Zealand dollar, the South African rand, and the Norwegian krone, is regarded as a commodity currency because of the sizable role of commodity production in the Canadian economy. In the case of Canada, the price of oil seems to be especially significant in currency moves...
Heres a trading system that exploits the strong correlation between the Canadian dollar and crude oil.
The Canadian dollar (affectionately referred to as the loonie by traders because of the appearance of a loon, a bird common in Canada, on the back of the Canadian one-dollar coin), like the Australian dollar, the New Zealand dollar, the South African rand, and the Norwegian krone, is regarded as a commodity currency because of the sizable role of commodity production in the Canadian economy. In the case of Canada, the price of oil seems to be especially significant in currency moves...
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