Old 06-13-2010, 01:05 PM   #1 (permalink)
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Default Forex Tip: oil.
There was an interesting point on bloomberg that USD (US Dollar),GBP (sterling) and Asian Currencies fall when the price of oil rises, and the CAD (Canadian), Dirhams (Dubai etc.) and AUD (Aussie dollar) all rise with the price of oil (and obviously fall with it).

Reason: Asia, Britain, and the US all import oil, so a rise in price is negative.
Canada, UAE, and Australia all export oil - meaning a rise in oil price is beneficial.

This rule works in the opposite direction - a fall in oil price = +USD and -UAE
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