Australian Dollar / U.S. DollarEducation
Correlations - An Example of Mining Currencies.
This chart shows a group of mining currencies: Aussie (AUD), South African Rand (ZAR) and Chilean Peso (CLP). These countries produce Gold, Copper further other metals. Using correlations, we can use an asset as a leading indicator of another asset.
For example, if ZAR starts a rally, is highly probable that AUD and CLP starts a rally. The same principle would be applied with Copper and Gold.
For example, if ZAR starts a rally, is highly probable that AUD and CLP starts a rally. The same principle would be applied with Copper and Gold.
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