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.
Hey very nice blog!
Hi there colleagues, how is everything, and what you wish for to say regarding this paragraph, in my view its in fact awesome in support of me.
When there is nonstop noise in your ears, normal functions of life become burdens. Elderly patients tend to benefit from this treatment program but it can cover the gaps that are left by the alternatives which are unable to restore hearing. The Tinnitus Miracle is accessible in PDF format and can be downloaded on both pc and on your Mac.
Thanks in support of sharing such a pleasant idea, piece of writing is good, thats why i have read it fully
Wonderful goods from you, man. I’ve understand your stuff previous to and you’re just extremely excellent. I actually like what you’ve acquired here, really like what you are saying and the way in which you say it. You make it entertaining and you still take care of to keep it wise. I can not wait to read much more from you. This is actually a great web site.
The best thing of Clash of Clans is you can play in iPad, Iphone and on Android units not just on Pc’s and Laptops.
Presently download Clash of Clans hack and commence acquiring a demand out of every single previous one of revenue of obtaining such a useful instrument.
Tremendous things here. I am very satisfied to see your post. Thanks so much and I’m having a look forward to contact you. Will you kindly drop me a mail?
There are several major medical centers in the heart of the city as well as the surrounding areas. So it has created just too many goalkeeper coaches fighting for a handful of goalkeeper coaching jobs. We have heard about the dreadful human cost and the houses lost but spare a thought also for the businesses and the consequent jobs lost.
Quite nice article in depth and informative well worth my time looking through it. i was looking through this one particular -organization-instagram/ as i was looking on how to improve my instagram followers but your is much much more easy to get!