chartwatchers

Does dollar price affect oil price?

FX:USOIL   Crude Oil (WTI)
288 2 21
Few people asked me if the stregthening dollar can push down oil             price?
(Now we are waiting for a stronger dollar in the upcoming weeks...)

I've set the US Dollar Index             and USOIL             on the same chart.

If the dollar has an effect on oil             price they should move to the opposite direction:
stronger dollar - declining oil             price and weaker dollar higher oil             price (red boxes)

If the dollar has no effect on oil             price they are moving to the same direction.(higher oil             price with strengthening dollar and lower oil             price with weakening dollar) green boxes.

So we can say that oil             can go higher even with the strenthening dollar.
very good chart. thats what I am thinking about now. USD still slowly strenghtening but oil looks like its heading up despite it...
Reply
and what about gold? they say not correlation with usd and gold but UST and gold there is a correlation. What do you think?
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out