AUDUSD and NZDUSD highly correlated with USDCNH
Traders can use the correlation coefficient on the 240-minute timeframe to help them determine where AUD/USD and NZD/USD may be headed next.
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Traders can use the correlation coefficient on the 240-minute timeframe to help them determine where AUD/USD and NZD/USD may be headed next.
With many commodities such as oil, gold, and wheat soaring, commodity currencies have gone along for the ride.
Watch AUD/USD too, as it is highly positively correlated to oil
Aussie steady as RBA holds the course Posted 2 hours agoSharePrint The Australian dollar is higher for a second straight day. In the European session, AUD/USD is trading at 0.7746, up 0.16% on the day. RBA maintains policy There were no surprises from the RBA, which maintained its policy settings, including keeping interest rates at a record low 0.10%. There is some unfinished business on the plate of RBA policymakers, as the bank will decide in July whether to implement further QE. The RBA statement did not provide any clues as to what the RBA is planning to do come July. The statement noted...
China said they would limit some corn imports and cancel several US cargos