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.
A motivating discussion is definitely worth comment. There’s no doubt that that you should publish more about
this issue, it may not be a taboo matter but typically people do not discuss such
subjects. To the next! All the best!!
Many thanks for this terrific post, I’m glad I found this site on yahoo and google.
Wonderful blog you have here but I was wondering if you knew
of any community forums that cover the same topics talked about here?
I’d really like to be a part of group where I can get feed-back
from other knowledgeable people that share the same interest.
If you have any recommendations, please let me know. Thanks a lot!
It’s actually a cool and useful piece of information. I’m glad that you just
shared this useful information with us. Please keep us informed like this.
Thank you for sharing.
What’s up to every one, the contents existing at this site are
genuinely amazing for people knowledge, well, keep up the nice work fellows.
I loved as much as you will receive carried out right here.
The sketch is tasteful, your authored material stylish.
nonetheless, you command get bought an impatience over that you wish be delivering the following.
unwell unquestionably come more formerly again as exactly the same nearly a lot often inside case you shield this
increase.
I got what you mean, thanks for posting. Woh I’m pleased to find this site.
Hello, I log on to your blogs daily. Your humoristic style is awesome, keep doing what
you’re doing!
Hey there just wanted to give you a quick heads up. The text in your content seem to be running off the screen in Internet
explorer. I’m not sure if this is a format issue or something to do with internet browser compatibility but
I thought I’d post to let you know. The layout look great though!
Hope you get the problem fixed soon. Kudos
Howdy would you mind letting me know which hosting company you’re utilizing?
I’ve loaded your blog in 3 completely different internet browsers and I
must say this blog loads a lot faster then most.
Can you suggest a good hosting provider at a fair price?
Thanks a lot, I appreciate it!
I like this website very much for it has plenty of fantastic
information.
Thanks for all your efforts that you have placed in this quite interesting content.
Hi there! I could have sworn I’ve visited this site before but after going through some of the posts I realized it’s new to me.
Regardless, I’m certainly delighted I stumbled upon it
and I’ll be book-marking it and checking back regularly!