There's no secret the oil price is a proxy to Russia economic expectations, yet oil correlation to RUBUSD (line chart, inverted to a more common USDRUB cross) is just impressive. Trading dynamics on both instruments is close to identical most time during the year.
That is indeed very impressive. Thanks a lot for that. It looks like the RUBUSD pair leads a little bit...maybe enough to help forecast the oil price movement?
rauan
⋅
@brentbartholomew, this is likely that oil price triggers currency change, so I'd test correlation in the opposite direction: following oil price and setup trades in the currency cross.