Commodity Prices Today - Metals, Energy, Agriculture, etc
Type | Unit | Chg | Chg(%) | Price |
---|---|---|---|---|
ETHANOL FUTURES (CBOT) | USD/gal. | 0 | 0% | 2.16 |
HEATING OIL (NYMEX) | USD/gal. | 0.0009 | 0.03% | 2.77 |
RUBBER (TOKYO) | JPY/kg. | -1.2 | -0.69% | 172.10 |
GOLD (COMEX) | USD/dmtu. | 0.25 | 0.01% | 2,162.48 |
UNIT DESCRIPTION:
- USD : United States Dollar
- INR : Indian Rupees
- JPY : Japanese Yen
- kg. : Kilo Gram
- bu. : Bushel
- lb. : Pound
- t oz. : Troy Ounce
- bbl. : Barrels
- MT. : Metric Ton
- gal. : Gallon
- MMBtu. : Million BTU (British Thermal Unit)
- cwt. : Hundred weight
- tbf. : Board Foot
- st. : Stone
- dmtu. : Dry Metric Tonne Unit
Can US Dollar Index affect international trade and commodities?
Yes, it can. As the dollar strengthens or weakens, it affects the purchasing power of other currencies, impacting import and export competitiveness. Commodities, such as gold and oil, are often priced in US dollars, so changes in the USDX can influence their prices and demand.
Continue Reading at How to Use US Dollar Index (DXY) for Analysis
Which commodity is most influential to the Australian Dollar?
The main commodities exported by Australia include iron ore and its concentrates, coal, gas, oil, and gold. Two of these, iron ore and gold, correlate positively to the price movements of AUD/USD. Take a look at the chart below, which compares the price movement of iron ore against AUD/USD.
Continue Reading at How Commodity Prices Affect the Australian Dollar
What are the most influential commodities to the forex market?
The major global commodities that have the most influence on currency exchange rates and serve as important indicators in Intermarket analysis are gold and crude oil.
Continue Reading at All You Need to Know About Intermarket Analysis
What is the correlation between commodity prices and the Australian Dollar?
When commodity prices rise, it makes Australian exports more valuable, strengthening the Australian dollar. Conversely, when commodity prices fall, Australian exports are less valuable, weakening the Australian dollar.
Traders can use this relationship between commodity prices and the Australian dollar to make predictions about the future direction of the Australian dollar. For example, if they believe that commodity prices are going to rise, they might buy Australian dollars in anticipation of the currency's strengthening.
Continue Reading at How Commodity Prices Affect the Australian Dollar
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