Commodity Currencies GBP

Beginner Questions
1

Hi I am a complete novice to the forex and trying to learn as much as I can, I have a question about Commodity Currencies in particular oil producing country’s. I am currently invested in the FI4 company’s that will be drilling for oil once the rig arrives at the end of the month (Mid Feb 2010 UK Territory), there are 3D seismic data estimating around 60 billion barrels of oil making it one of the biggest oil fields in the world. This would obviously have a effect on the economy if it is found, what pair would be best to trade to take advantage of such a find? i.e GBP/? Any advice greatly appreciated. T.I.A.

Des

2

None. Even [B]if[/B] this is for real, it would take years for the supply to flow into the system.

Also, there are other players and factors in the oil business. 60B+ here can be offset by 60B- equivalently somewhere else (i.e. economic downturn, oil production by OPEC, etc). I’d strongly advice that you consider this more.

To answer your question, CAD is known to be correlated with oil the most. USDCAD is one of the major pairs.