Excerpt from: Forex Training
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| February 19, 2009 | | U.S. dollar often moves inversely to oil prices | With U.S. dollar heading a bit lower today, oil prices are finally getting a boost. They began stabilizing yesterday, and today are heading higher. Oil prices often move inversely to the U.S. dollar, and with the greenback down in currency trading, oil is getting a little help.
Another thing helping oil prices are stocks (which also often move opposite the greenback). With the stock market trying a bit of a rally right now, and with the dollar down in forex trading, oil prices just might find some purchase to move a little higher.
| Topic Tags: currency trading, dollar forex trading, forex trading, greenback, greenback currency trading, oil prices, stock market, U.S. dollar | |
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