The Canadian dollar has been extending its yesterday’s gains against the currencies of Europe, Australia and Japan in Asian deals on Friday as crude oil price rose on Egypt worries.
The Canadian dollar strengthened to a 3-day high against the euro, 11-day high against the Aussie and more than a 3-week high against the yen. But the Canadian dollar traded in a tight range against the US dollar.
Egyptian President Mubarak surprised the markets yesterday by stating that he will stay in office until the September elections but will transfer some power to the country’s new vice president.
U.S. crude for March delivery gained 56 cents to $87.22 a barrel at 12:40 am ET.
The International Energy Agency (IEA) in its monthly Oil Market Report released yesterday revised up 2011 global oil demand by 120,000 barrels per day to 89.3 million barrels per day (mbd)
Separately, the OPEC in its monthly report said yesterday that world oil demand forecast to grow by 1.4 mbd to 87.70 mbd in 2011, citing stronger industrial output in the US and China.
The Canadian dollar gained against the currency of Europe in Asian deals on Friday. As of now, the loonie is trading at a 3-day high of 1.3508 against the euro with 1.336 seen as the next upside target level. At yesterday’s close, the euro-loonie pair was quoted at 1.3542.
The euro fell amid reduced expectations for an interest rate hike by the European Central Bank in the near future.
During Asian deals on Friday, the Canadian dollar advanced against the Japanese yen. The loonie-yen pair is currently trading at more than a 3-week high of 83.92, compared to Thursday’s close of 83.66. The next upside target level for the loonie is seen at 84.7.
The Canadian dollar strengthened against the Aussie in Asian deals on Friday. At present, the loonie is trading at an 11-day high of 0.9939 against the aussie and if the loonie climbs further, it may likely target the 0.985 level. The aussie-loonie pair closed yesterday’s trading at 1.00.
The Aussie slipped as the Reserve Bank of Australia Governor Glenn Stevens indicated today that interest rates in the nation would be stable in the forseeable future.
In Asian deals on Friday, the Canadian dollar traded in a tight range against the US dollar. The pair bounced between 0.995 and 0.996. The pair was worth 0.9955 at yesterday’s close.
Looking ahead, German final CPI and wholesale price index- both for January, French December current account and preliminary fourth quarter non-farm payrolls, U.K. January PPI are expected to influence trading in the upcoming European session.
Trade balance reports for December from U.S. and Canada and the University of Michigan’s preliminary consumer confidence report for February are slated for release in the North American session.
I’m new to your website. Stumbled upon it while exploring online.
Continue the great work. I’m hoping you update it frequently since
I’ll be staying tuned for lots more.
This is a topic that’s near to my heart… Best wishes!
Exactly where are your contact details though?
Wow that was strange. I just wrote an extremely long comment but after I clicked
submit my comment didn’t appear. Grrrr… well I’m not
writing all that over again. Regardless, just wanted
to say wonderful blog!
You’ve made a variety of nice points here. I see something
really special in this internet site. Thank you for posting.
I recently noticed your site. You’ve got a loads of information here that
is why i like it!
Well written article. It will be beneficial to anybody, including me.
Continue the good work. I can’t wait to read
more posts.
I know this website offers quality dependent posts and other information, is there any other web page which
provides such stuff in quality?
Wow, that’s what I was searching for, what a material!
existing here at this blog, thanks admin of this
site.
It’s actually a nice and useful piece of
information. I am glad that you just shared this helpful information with
us. Please keep us up to date like this. Thank you for
sharing.
I really like your blog.. very nice colors & theme.
Did you create this website yourself or did you employ someone to do it for you?
Plz answer back because I’m looking to make my own blog and would like
to know where you got this from. thanks a lot.
Hi would you mind letting me know which hosting company you’re using?
I’ve loaded your blog in 3 completely different browsers and I
must say this blog loads a lot quicker then most.
Can you recommend a good hosting provider at a honest price?
Cheers, I appreciate it!
Wow! In the end I got a weblog from where I be able to genuinely take useful data concerning
my study and knowledge.
Link exchange is nothing else except it is only placing the other
person’s webpage link on your page at appropriate place and other person will also
do same for you.
Yeah bookmaking this wasn’t a terrible idea. Great post!
It’s amazing to go to see this site and reading the views of
all colleagues about this paragraph, while I am also eager of getting knowledge.
What’s up, I log on to your new stuff on a regular basis.
Your story-telling style is awesome, keep up the good work!
Very energetic blog, I liked that a lot. Will there be a part 2?