A commodity currency is a name given to currencies of countries which depend heavily on the export of certain raw materials for income. These countries are typically developing countries, eg. countries like Burundi, Tanzania, Papua New Guinea; but also include developed countries like Australia and Iceland. In the foreign exchange market, commodity currencies generally refer to the Australian Dollar, Canadian Dollar, New Zealand Dollar, and the South African Rand.
There are many companies in the market which are working in the direction of providing Commodity Tips related to commodity market they are having special calls in various sector of commodity like the bullion plus calls, agri calls and these companies are gaining prominence in their fields for providing such calls which are having an efficiency of 80-90% accuracy.
China’s economic growth quickened to an annual rate of 9.8 percent in the fourth quarter, up from 9.6 percent in the prior three months, the statistics bureau said in Beijing. Consumer prices rose 4.6 percent in December from a year earlier, compared with 5.1 percent the previous month.
The South African rand fell 1.3 percent to 7.0815 per dollar at 5 p.m. in New York, from 6.9931 yesterday. It touched 7.1127, the weakest since Dec. 1. New Zealand’s dollar dropped 1.5 percent to 75.70 U.S. cents and the Aussie lost 1.4 percent to 98.71 U.S. cents.
Canada’s dollar dropped below parity with its U.S. counterpart for the first time in two weeks. The loonie touched C$1.0031 before trading at 99.73 cents per U.S. dollar from 99.57 cents
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