Crude Oil Prices and Forex

Question 1

how is crude oil processed?

Answer 1

crude oil is processed in plastics, food additives, synthetics and most importantly petrol (gasoline)

Question 2

is there a large demand for crude oil?

Answer 2

yes, there’s a large demand for crude oil worldwide

Question 3

which currencies can be indicated by the crude oil market?

Answer 3

USD, CAD & JPY

Question 4

what should a trader do with USD/CAD when crude oil value increases?

Answer 4

go short (sell)

Question 5

when crude oil prices increase, what should traders do with CAD/JPY?

Answer 5

go long (buy)