Now let's talk about another kind of gold ... black.

As you may know, crude oil is also called "black gold" or "black cocaine", and we like to call it that.

A person can live without gold, but if you are addicted to drugs, you can't live without cocaine.

Oil is a kind of drug, as the main energy source of the global economy, flowing in the blood vessels of the global economy.

Canada is one of the largest oil producers in the world, exporting about 2 million barrels of oil to the United States every day. This makes it the largest oil supplier in the United States.

This means that Canada is the main dealer of black cocaine in the United States.

Because of the huge amount, the United States needs a lot of Canadian dollars to buy.

It should also be noted that Canada's economy depends on exports, and 85% of its total exports are to its southern brother, the United States, so the trend of USD/CAD may be strongly influenced by the reaction of American consumers to changes in oil prices (for details, please pay attention to WeChat official account "Global Voice of Foreign Exchange").

If American demand rises, manufacturers will have to order more oil to meet the demand. This will lead to higher oil prices and lower USD/CAD.

If demand in the United States drops, manufacturers will reduce demand because they don't have to produce more products. Oil demand may decline, which may also hit Canadian dollar demand.

Therefore, the next time you refuel your car, you can make good use of this information if you see an increase in oil prices. This may mean that you have to short USD/CAD.