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Commodity currencies explained


Commodity currencies explained
City Index
May 5, 2021 12:06 PM
There are certain currencies that are linked to the price movements of commodities. Once you get to grips with the relationship phenomenon, you can take advantage of these trading opportunities. Find out what commodity currencies are and how to get started trading.
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Commodity currency definition
A commodity currency is a currency that moves in a correlated step with the global price of primary commodities due to certain countries’ dependency on the export of raw materials for income.
The commodities include minerals like copper, iron ore and coal, energy products such as oil and gas, precious metals, and dairy products like milk. ....

United States , South Africa , New Zealand , Saudi Arabia , Baker Hughes , Organisation Of The Petroleum Exporting Countries , Petroleum Exporting Countries , West Texas Intermediary , Middle East , ஒன்றுபட்டது மாநிலங்களில் , புதியது ஜீலாந்து , சவுதி அரேபியா , ரொட்டி சுடுபவர் ஹக்ஸ் , ஆர்கநைஸேஶந் ஆஃப் தி பெட்ரோலியம் ஏற்றுமதி நாடுகள் , பெட்ரோலியம் ஏற்றுமதி நாடுகள் , மேற்கு டெக்சாஸ் இடைத்தரகர் , நடுத்தர கிழக்கு ,

WTI drops back towards weekly lows in the low-$59.00s as sources signal OPEC+ output hikes


Apr 1, 2021 17:36 GMTFXStreet News
Crude oil markets have been choppy in recent hours and have fallen back towards weekly lows.
Sources indicate that OPEC+ will be gradually increasing output from May.
But the softer USD and strength in stocks may keep WTI supported above $59.00.
Crude oil markets have seen rollercoaster price action over the last few hours, with market participants watching events at the OPEC+ meeting intently. Right now, it looks as though the cartel will be bringing crude oil back online from May and crude oil markets seem not to like this outcome. As a result, front-month futures contracts for West Texas Intermediary (WTI) crude oil have fallen back to the low $59.00s and are probing weekly lows. A break below the $59.00 level would open the door to an extension of losses towards March lows in the mid-$57.00s. ....

Saudi Arabia , United States , Saudi Arabians , West Texas Intermediary , Dollar Index , சவுதி அரேபியா , ஒன்றுபட்டது மாநிலங்களில் , சவுதி அரேபியர்கள் , மேற்கு டெக்சாஸ் இடைத்தரகர் , டாலர் குறியீட்டு ,