commodity currency is the name that given to States currency that depend heavily on the export of certain raw materials for national income.also, Major currencies that consider commodity currencies are the Australian dollar, Canadian dollar and New Zealand dollar.
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| Commodity currencies |
Gold and silver are indeed commodities, therefore, it is also possible to consider them as commodity currencies, for the second time, they are traded in US dollars as previously mentioned.
from my experiences in trading with major currency pairs such as the Australian dollar versus the US dollar, the New Zealand dollar versus the US dollar, gold and silver they consider the best currencies to trade, I tend always to avoid trading in the US dollar versus the Canadian dollar, and I advise you also avoid trading this pair.
intersection currency pairs
intersection currency pairs are the other currency pairs do not associated with the US dollar, such as:
Now, I don't recommend traders to trade on all intersecting pairs, but there is a short list of intersecting pairs that I recommend to traders. This small menu includes four pairs are:
GBP/JPY, EUR/JPY, AUD/JPY, and finally the New Zealand dollar against the Japanese yen.These four pairs are the most common pairs in the Forex market in addition to the major currency pairs.