Be an Evil Tycoon
It seemed as if it was only yesterday (or less than one year ago) that traders were claiming $60 would be the highest that oil prices could rally. Now, in retrospect, in the minds of many of those same traders, $60 seems to be the lowest to which we could see oil prices fall once again.
Oil Speculators Trade Currency. You Can Too!
The sharp surge in energy prices has nearly everyone scratching their heads about where oil prices may be headed next and what currency pair they could trade to profit from that view. Some oil traders are calling for $80 a barrel while more aggressive ones are setting their sights on $100.
The rise in oil has made headlines across the globe for months now. Strong demand from China and India, the lack of ability by Saudi Arabia (and other OPEC countries) to increase oil production, as well as weather related supply shocks have fueled the continual rise in crude oil prices. From our economics 101 textbooks, we remember that high oil prices act as a tax for consumers by slowing down consumer spending, which eventually takes a bite out of growth. Yet the actual impact of oil prices on different currencies can be very mixed. [LINK]
Note: we do not advocate any form of capitalistic tyranny.
Posted: February 13th, 2008
at 11:45am by Black Ock
Categories: business,boredom killer
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