Correlations Question????

Can anyone point me in the right direction to learn how the other markets correlates with forex? I heard a professional trader say if the dow is down the yen will be strong if the dow is up yen will be weak... Also I was told to keep my eye on oil prices, because it effects currencies.... Also gold prices. Can anyone give me a website info so I can start to commit these things to memory??? Thank you for your help....

 

Not sure about a specific website, but check out the countries that product the commodities vs. the countries that consume them.

Gold goes up and it helps countries that export gold.
Oil goes up - it helps the countries that export oil and nails the countries that import a lot.

After the oil crisis in 1973, the US embarked on a plan for energy independence to break the hold of foreign oil on the US economy. At current rates, this should be fixed within another few hundred years.

 

Typing 'forex currency correlation' into google will give you a good start Steve.

Commodity currencies tend to keep their correlation fairly high, but other markets can lose correlation over time, or at least change their percentage of correlation so memorizing them won't really help.

Between currency pairs there is correlation, both positive and negative, so check out the web for info on that so as you don't find yourself caught out when trading several pairs at once.

Here's a fairly quick explanation : Correlation in the Forex Market | ForexCare.Net