Does the Canadian Dollar Predict Future Oil Prices?
Does the Canadian Dollar Predict Future Oil Prices? Tuesday March 4, 2008#spacer{clear:left}#abc #sidebar{margin-top:1.5em}zSB(3,3)A fascinating post at the WSJ blog. Here is a snippet: Movements in commodity-producing countries currencies have remarkably robust power in predicting future global commodity prices, according to a new paper from economists Yu-chin Chen at the University of Washington, Kenneth Rogoff at Harvard and Barbara Rossi at Duke. They analyzed movements in the Canadian, Australian and New Zealand dollars, and the Chilean peso and South African rand. Commodities represent a significant portion of exports from these currencies countries, so when prices move it can have an outsized effect on their economic wellbeing… But the economists found that the c
Does the Canadian Dollar Predict Future Oil Prices? Tuesday March 4, 2008#spacer{clear:left}#abc #sidebar{margin-top:1.5em}zSB(3,3)A fascinating post at the WSJ blog. Here is a snippet: Movements in commodity-producing countries currencies have remarkably robust power in predicting future global commodity prices, according to a new paper from economists Yu-chin Chen at the University of Washington, Kenneth Rogoff at Harvard and Barbara Rossi at Duke. They analyzed movements in the Canadian, Australian and New Zealand dollars, and the Chilean peso and South African rand. Commodities represent a significant portion of exports from these currencies countries, so when prices move it can have an outsized effect on their economic wellbeing… But the economists found that the c
