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5 World Currencies That Are Closely Tied to Commodities
By Advisor Perspectives
Capital Markets, Financial Services
This year, commodity prices have been under pressure from a strong U.S. dollar and trade war fears. This has made a huge dent in the balance sheet of many net exporters of resources, in turn weakening their currencies. However, commodities could be on the rebound and are flashing a massive buy signal.
This should come as a shock to no one, but what most people don’t realize is just how closely some currencies track certain commodities. I have shared several charts that show this correlation over the years at numerous industry conferences. Attendees were always astounded when I got to these slides – and we’re talking professional economists, money managers and CEOs here.
With that said, I think it’s important that you see this correlation as well. Below are five world currencies that have been impacted by lower commodity prices.
Read more at Advisor Perspectives.
Photo: Michael Coghlan