# FX: The complexities of commodity-linked currencies - Euromoney

> Euromoney reviews how commodity-linked currencies such as the Canadian dollar, Australian dollar and Russian rouble have been driven more by central bank policy than by commodity prices. It notes both AUD and CAD fell sharply in late 2018 with crude. Dealers point to weak demand from China and high producer debt.

- Date: 2019-03-01 · published 2019-03-01T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/60324-fx-the-complexities-of-commodity-linked-currencies-euromoney
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Commodity-currency weakness reflects softer crude and raw material demand, signaling lower energy-linked and industrial commodity prices that can pressure feed input costs.

## Read by commodity

- WTI: bearish ▼
- AUDUSD: neutral
- USDCAD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-12-19 | [The Commodities Feed: Fed comments weigh on the complex \| ING THINK](https://feedsoft.ai/events/26850-the-commodities-feed-fed-comments-weigh-on-the-complex-ing-think.md) | -0.8% | +10.8% |
| WTI | 2021-09-21 | [The Commodities Feed: Risk-off move hits the complex \| snaps \| ING THINK](https://feedsoft.ai/events/6381-the-commodities-feed-risk-off-move-hits-the-complex-snaps-ing-think.md) | +7.3% | +17.3% |
| WTI | 2024-02-01 | [The Commodities Feed: Fed comments weigh on the complex \| articles \| ING THINK](https://feedsoft.ai/events/31573-the-commodities-feed-fed-comments-weigh-on-the-complex-articles-ing-think.md) | -2.6% | +3.6% |
| WTI | 2022-02-11 | [The Commodities Feed: US Fed pressure weighs on the commodities complex \| snaps \| ING THINK](https://feedsoft.ai/events/42647-the-commodities-feed-us-fed-pressure-weighs-on-the-commodities-complex-snaps.md) | +2.1% | +21.7% |
| WTI | 2022-07-07 | [The recent commodity sell-off](https://feedsoft.ai/events/5055-the-recent-commodity-sell-off.md) | -2.0% | -7.4% |

## Sources

- euromoney.com: https://www.euromoney.com/article/27bjsstsqxhkmh1wmk6ce/foreign-exchange/fx-the-complexities-of-commodity-linked-currencies/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.