Trading Correlations: Gold & Australian Dollar | Closing the Gap: Futures Edition

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Due to its strong correlation with Gold (/GC), the Australian Dollar (/6A) is often thought of as a “commodity currency.” On this episode of Closing the Gap: Futures Edition, tastytrade explains how changing prices in Gold influence the Aussie Dollar’s price and how this relationship/correlation has behaved historically and recently. Then, we put this information into practice with a few futures trade setups that incorporate the outright futures as well as ETFs.

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G Man says:

ok, i hate to disagree with someone that knows far more than I do, but gold has little to do with the Aussie dollar, i trade the aud quite a bit, and though there is some correlation, gold is only about 8% of exports. What moves the aud is the price of iron ore, which australia happens to be the worlds second largest producer, just behind china, and china produces nearly double what australia does, of course china also imports the bulk of Australia's iron ore production, so when steel prices in china are soft, and iron ore drops in price, so does the aud. Your chart happen to show a correlation, because gold happens to move with the price of commodities, such as oil and since oil is australia's second largest export, that is why you see a correlation between gold and the aud.

Жан Шевалье says:

I'll be your counterpart (just kidding…)

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