Which currencies are the commodities currency?

Beginner Questions
1

how do these currencies effects on oil , gold , silver etc… prices??

2

check out gold price and other commodities when canadian Employment Change drop from 52.1k to 1.8k … november second 2012 last friday…

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3

The currencies most associated with commodities, the commodity dollars (Comdolls, for short), are the CAD, AUD and NZD. The CAD and oil have a direct relationship whereas the AUD and NZD have a metals relationship. Not surprisingly, Canada is the world’s second largest exporter of oil and Australia is, I believe, the world’s second largest exporter of precious metals.

The movement of gold and the CAD are not commodities based but safe-haven based. The stronger the Canadian economy, the more risk investors are willing to take in the Canadian economy and the less the they use gold as a “safe” investment. The same phenomena is more acutely displayed with gold and the U.S. economy.

As the price of oil rises, so too does the Candian economy (because its primary export is in more demand) and thus the value of the Canadian dollar. Same goes for the AUD and NZD when it comes to metals.

Relying on only commodity price changes and the economies of the Comdoll nations cannot really be viewed in isolation though. Remember, the value of the Comdoll currencies is only relative to other currencies, especially the USD and JPY.

That’s where it becomes a giant spider web of complex fundamentals that I do not pretend to have a solid grasp of and I graciously bow out, preferring to concentrate on technicals.

4

it would be difficult to ascertain that the Canadian employment data was the culprit for that drop in gold. don’t forget that US employment data was also released at the SAME time Canadian employment got released.

5

same here. it has a lot of intricacies given that there are complex interrelationships. technicals is ‘easier’ and fundamental footprints are inherently found in the charts

6

thanks guys for your usefull information , but what are the relationship between these currencies and commodities is it positive relashionship or negative …

Thank you