How Does +ve or -ve news on Commodity(e.g Oil) affect a pair like EUR/GBP - Forex Questions and Answers - FXAnswer

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How Does +ve or -ve news on Commodity(e.g Oil) affect a pair like EUR/GBP

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- John Ka...
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1 year ago

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0 Votes No, it doesn't affect EURGBP as they are not commodity currency. by Warren 1 year ago by Warren 1 year ago
0 Votes News on oil mostly affect the commodity currency CAD, as CAD is a currency that is heavily correlated with oil prices and Canada being one of the world's largest producers of oil. by fxpie 1 year ago by fxpie 1 year ago
0 Votes Commodity like oil has no direct relatisnship with the price movement of EUR/GBP. In general, when risk appetite going up, the oil price going up as well to certain extend. by Kingpin 1 year ago by Kingpin 1 year ago
0 Votes Both the currencies you mentioned are not commodity currencies. To gibe u bit understand, CAD & JPY related to oil, AUD & NZD relates to gold. how they reklated is another story by thegreeks 1 year ago by thegreeks 1 year ago
0 Votes As far as I know Commodity currencies are CAD,AUD and NZD.Oil is directly related to Canadian Dollar as it is one of the largest producers of oil and holds oil reserves second only to Saudi Arabia. So I don't think any positive or negative news on Commodity affect a pair like EUR?GBP. by Suneetha 1 year ago by Suneetha 1 year ago
0 Votes EUR/GBP pair have no bearing with commodity, AUD/USD CAD/USD can be affected by commoditÃ½ news. by Harold 1 year ago by Harold 1 year ago

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No, it doesn't affect EURGBP as they are not commodity currency.

Warren

1 year ago

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News on oil mostly affect the commodity currency CAD, as CAD is a currency that is heavily correlated with oil prices and Canada being one of the world's largest producers of oil.

fxpie

1 year ago

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Commodity like oil has no direct relatisnship with the price movement of EUR/GBP.

In general, when risk appetite going up, the oil price going up as well to certain extend.

Kingpin

1 year ago

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Both the currencies you mentioned are not commodity currencies. To gibe u bit understand, CAD & JPY related to oil, AUD & NZD relates to gold. how they reklated is another story

thegreeks

1 year ago

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As far as I know Commodity currencies are CAD,AUD and NZD.Oil is directly related to Canadian Dollar as it is one of the largest producers of oil and holds oil reserves second only to Saudi Arabia. So I don't think any positive or negative news on Commodity affect a pair like EUR?GBP.