The following table includes the correlation between gold and the most popular currency pairs over various timeframes. A value close to +1 indicates a strong positive relationship between gold and the pair, while a value close to -1 indicates a strong negative relationship.
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|
Gold |
USD/CAD |
AUD/USD |
NZD/USD |
EUR/USD |
GBP/USD |
USD/JPY |
USD/CHF |
|
15 Min, 3 Day |
-0.12 |
0.36 |
-0.29 |
0.58 |
0.32 |
-0.63 |
-0.59 |
|
60 Min, 1 Week |
0.24 |
-0.48 |
-0.64 |
0.67 |
-0.11 |
-0.73 |
-0.74 |
|
60 Min, 2 Weeks |
-0.32 |
0.35 |
-0.48 |
0.88 |
0.79 |
-0.75 |
-0.95 |
|
Daily, 1 Month |
-0.57 |
-0.08 |
-0.80 |
0.15 |
0.53 |
0.32 |
-0.38 |
Weekly Commentary: Gold – FOREX correlations were mixed in the latest week, as turmoil in Libya sent the safe haven metal toward its record high. The correlation between AUD/USD and gold deteriorated, with the two displaying no meaningful relationship; AUD/USD was flat week-over-week, unable to keep up with surging gold prices. Meanwhile, USD/CHF plunged to new record lows, causing the correlation between the pair and gold to stay firm at -0.74.
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