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Thread: Discuss EUR/USD News with a DailyFX Analyst
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Old 10-21-2008, 08:51 PM
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rickos rickos is offline
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Lightbulb NZ Oil
Quote:
Originally Posted by melbgirl View Post
While I managed to take a few pips profit on one lot, the other got stopped out on today's bounce - of course seems to be reversing from there just to annoy me LOL....not ready to buy EUR, even though it's quite oversold. News of newly found oil deposits east of New Zealand might depress crude price further.
I better cut my NZD shorts.
Reports Of Huge Oil Find Misleading - NZ Press Sydney, October 22: According to press reports out of New Zealand, reports of a massive oil find off the coast of New Zealand are misleading. The Petroleum Exploration & Production Association of New Zealand (PEPANZ) in a statement said: "the assessment of the prospect for oil is an estimate of potential, not a discovery of oil." A spokesman added: "There is no guarantee of the volume of oil underground. The only way of confirming there is oil is to drill. And no wells have been drilled there since 2001."
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