Forex Information - Interpreting The Future Of The Oil Marketplace And How It Affects Forex Trading (Part 5)
Based on those three points, the experts are keeping their eye on the CADJPY pairing for the most profitable trades, and here’s why.
Canada has been climbing on the list of the world’s oil producers for years, and is currently the ninth largest exporter of oil worldwide. Since the year 2000, Canada has been the largest supplier of oil to the U.S., and has been getting considerable attention from the Chinese market. It’s predicted that by 2010, China’s import needs for oil will double, and match that of the U.S. by 2030. Currently, Canada is positioned to be the largest exporter of oil to China. This puts Canada’s dollar in an excellent position from a trading perspective.