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Correlation
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![Yen, Euros and dollar currency bills and notes](/en-sg/-/media/research/global/news-analysis/featured-image/2021/03/forex7.jpg?h=300&w=1170&hash=7EFD378CEF3BA16A12264C05589B5917)
US Dollar Fake out?
USD/CHF has a strong correlation with the DXY. Therefore, if one wishes to trade a currency pair rather then the US Dollar Index, USD/CHF could be a good choice!
![Gold nuggets](/en-sg/-/media/research/global/news-analysis/featured-image/2021/03/gold4.jpg?h=300&w=1170&hash=28F0F06938A3E1140E98B6E8BF36B113)
What’s next for the highly correlated assets of Gold and DXY?
As long as this correlation holds, traders can get clues as to where Gold may be headed based on the direction of the DXY.
![Currency exchange rate board of multiple currencies](/en-sg/-/media/research/global/news-analysis/featured-image/2021/03/forex3.jpg?h=300&w=1170&hash=45A92EBADA9C70A5AD1B3405F4AF3CF1)
USD/CHF tests parity again; Keep an eye on the US Dollar Index!
The key as to where USD/CHF goes next may be in the DXY.
![Currency exchange rate board of multiple currencies](/en-sg/-/media/research/global/news-analysis/featured-image/2021/03/forex3.jpg?h=300&w=1170&hash=45A92EBADA9C70A5AD1B3405F4AF3CF1)
USD/CHF tests parity again; Keep an eye on the US Dollar Index!
The key as to where USD/CHF goes next may be in the DXY.
![Currency prices](/en-sg/-/media/research/global/news-analysis/featured-image/2021/03/forex.jpg?h=300&w=1170&hash=215AC7693CEA1A34173D61B14DA5C153)
Canadian GDP weaker than expected. USD/CAD following oil on shorter timeframes
Will the GDP data matter come the BOC’s interest rate decision meeting next week? It may depend on whether USD/CAD continues to follow the price of oil!
![Oil rig on an grey day](/en-sg/-/media/research/global/news-analysis/featured-image/2021/03/energy2v2.jpg?h=300&w=1170&hash=6188EE94333F8CE3FB089AE6825A6676)
How to trade Oil using Foreign Exchange
USD/CAD and USD/NOK both have a high negative correlation with oil
![Market chart showing uptrend](/en-sg/-/media/research/global/news-analysis/featured-image/2021/03/uptrend-2-v2.jpg?h=300&w=1170&hash=DA25CDF1A644B345D1E77AF7318327DE)
How to trade Equity Indices using Foreign Exchange
When looking at the equity indices vs foreign exchange pairs, traders often point to the inverse correlation between the SPX 500 and the DXY
![](/en-sg/-/media/research/global/news-analysis/featured-image/2021/03/crypto1.jpg?h=300&w=1170&hash=CE970A67274BE079F774B3E93DE35B09)
How to trade Bitcoin using foreign exchange
Bitcoin charts can be an important tools for foreign exchange traders to have in their arsenal
![Oil rig in the sea](/en-sg/-/media/research/global/news-analysis/featured-image/2021/03/energy4.jpg?h=300&w=1170&hash=BA29A857DAB30E006356759EF57183ED)
With OPEC leaving output unchanged, what’s next for USD/CAD?
As demand for energy increases and OPEC supply remains constant, WTI and Brent oil prices should continue to increase as USD/CAD continues to decrease