what do you guys think
is there any correlation between audusd and gold
- Thread starter padutrader
- Start date
CannonTrading_Ilan
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I asked my colleague John Thorpe for some feedback:
Other than 6A being considered a "commodity" currency along with the 6C .. and Gold is a "commodity" i would say they are co related , studies over the past 180 trading days have indicated that both the AUD/USD and CAD/USD are correlated to Gold 76% and 68% of the time, on a closing basis, respectively.
Other than 6A being considered a "commodity" currency along with the 6C .. and Gold is a "commodity" i would say they are co related , studies over the past 180 trading days have indicated that both the AUD/USD and CAD/USD are correlated to Gold 76% and 68% of the time, on a closing basis, respectively.
everything is connected now
I've read that the Loonie is correlated closely to CL, due to Canada having oil as a major export? *shrugs* Worth a look.
aud goes up when the stock market goes up significantly.
ie aud wouldn't move when the stock market doesn't move significantly.
Even the major Australia economic news wouldn't move aud.
ave aud day range is meagre 40 pips.
there was a loooong period of time where the day range was ~ 30 pips.
gold is heavily affected by interest rate news and major crisis.
When the stock market goes up significantly,
gold might
- go up
- go down or
- go sideway
so short answer to your question is:
ABSOLUTELY NO !
ie aud wouldn't move when the stock market doesn't move significantly.
Even the major Australia economic news wouldn't move aud.
ave aud day range is meagre 40 pips.
there was a loooong period of time where the day range was ~ 30 pips.
gold is heavily affected by interest rate news and major crisis.
When the stock market goes up significantly,
gold might
- go up
- go down or
- go sideway
so short answer to your question is:
ABSOLUTELY NO !
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Oil as a percentage of the Canadian economy and stock market has been shrinking a lot. Any correlation at this point isn't going to move the needle much longer term, but there might be some psychological connection with short term trading.
The main thing moving US$/CDN$ lately imo ( up 12-13% from the bottom ) is the growing federal debt levels in the US, and strength in all commodity sectors not just Oil. Longer term, US$/CDN$ is in a giant range and a lot of the moves are fairly random and trend based. Just be on trend.
- Go to Yahoo finance and enter AUDUSD=X for a 1-year chart - or time period you prefer.
- In the same chart compare GC=F - you will get an overlay with gold over the AUDUSD chart.
How do you interpret the results?
i was hoping you guys would do all the work and give me a one line answer
i did notice they went opposite for a while....because i used to take positions in both.......but that changed....so if it is there it is not obvious
nothing to with thread topic
but i found aud gives very clear trade signals ....gold gives signals which are vague but very profitable if you get it right
with i aud i just take bigger size and smaller stops..........so that makes it up
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