**USD/CAD How does this correlate to oil prices??? can anyone tell me ?
What appears to be the best way to go if we feel oil prices go to -$100 per barrel
Please have a look at this lesson in the School: How Oil Moves with USD/CAD
And also this lesson: The U.S. Dollar And Oil Relationship Is Changing
If you’d like to express your views on the oil market via the currency market, I recommend the following currency pairs:
These currencies are known as “petrocurrencies”.
A petrocurrency is a currency that is affected by rising and falling oil prices. Especially oil-producing nations that rely heavily on oil export revenue like Saudi Arabia, Russia, Norway, Canada, and Mexico.
I’d add Nigeria (NGN) but the naira isn’t free-floating.