Hello everyone
Sorry for disturbing you
Please ,I need some clues to explain my empirical analysis
Indeed , i am working on the impact of oil market dedollarisation on the relationship between international oil prices and the Chinese and Russian exchange rate ( bilateral with regard to usd)
the sample is divided into two, prior and after 2014
the analysis shows that , the oil price causes Russia and Chinese Exchange rate prior to 2014, but not vice versa
after 2014, there is a bidirectional relationship between the two variables in these countries, the causality from oil price has also weakened
I need some insight to explain why the Chinese and Russia currency are affecting the oil price
why should the rmb or the ruble affect oil international price ?
is that causality dued to rmb/ Ruble volatily or USD fluctuations?
Can you please provide me with some idea or material to give sense to these findings?
Thank you
The development of the value of the Chinese and Russian currencies is expected to have little impact on the price of oil. Much more important is global demand and the ability of producer cartels to effectively control the amount of global oil supply.
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