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NZD/AUD and Oil Prices | Forex Pairs To Trade Commodities

NZD/AUD and Oil Prices | Forex Pairs To Trade Commodities

Research, Research Team

“Lumber, dairy going up. Oil going up. It really creates a really interesting environment for a pair like Kiwi Yen, which is completely removed from something that's an otherwise very bad risk environment. And so for me, when I take a look at a lot of these currencies right now, I'm thinking about in terms of trade, which currencies are positioned well to deal with this commodity rise, and they benefit from exporting more of those commodities moving forward in the future and will that benefit them and their companies financial and economically” -Chris Vecchio

Chris Vecchio and Victor Jones discuss some of the best forex trades to make when considering the implications of the Russia and Ukraine conflict, oil prices, and the critical nature of trade. As commodity prices increase, nations that are global suppliers of oil, lumber, and dairy could see their currencies appreciate.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.