The Canadian dollar extended its recent downtrend against major currencies in early New York trading on Wednesday despite a rally in crude oil prices as traders flee from riskier currencies amid escalating tensions in Libya.
Libya holds Africa’s largest oil reserves and is the continent’s fourth largest producer and is an OPEC member, the cartel that produces about 40 percent of global supplies.
Although only a small part of Libya’s oil production appeared to be affected by the unrest so far, traders fear that similar revolts will spread to other Middle East oil producers and hurt global economic growth.
Light Sweet Crude Oil futures for April delivery rose to $96.77 a barrel, up $1.35 from yesterday’s close. On Tuesday, the oil surged over 6 percent on Middle East tensions to settle at $95.42.
The loonie reached a 13-day low of 1.3639 against the euro and 83.28 against the yen around 9:30 am ET, down from yesterday’s closing values of 1.3528 and 83.58, respectively. On the downside, the Canadian currency may target support levels at 82.80 against the yen and 1.3660 against the euro.
Eurozone industrial new orders rose 2.1% month-on-month in December, the European Union statistical agency Eurostat said today. Economists had forecast a decline of 1% following a revised 2.2% increase in November.
Compared to December 2009, industrial orders were up 18.5% in the final month of 2010. That beat an expected growth of 16.2%. In November, orders surged 20%.
Against the US dollar, the Canadian dollar fell to a 12-day low of 0.9940 around 9:10 am ET and this may be compared to yesterday’s close of 0.9909. If the loonie weakens further, 0.9990 is seen as the next likely target level. The pair is presently trading at 0.9930.
Looking ahead in the data front across the boarder, the National Association of Realtors is scheduled to release its report on existing home sales for January at 10:00 AM ET. Economists estimate existing home sales of 5.25 million for the month after posting a rate of 5.28 million for December.
Sản phẩm còn có tác dụng rất tốt giúp điều trị mụn hiệu quả, đánh bay nám da cho làn da trắng sáng mịn màng.
Find Hindi News, Hindi Bollywood news and Cricket News in Hindi on every topic at jagran. However, some of the news channels are providing news only in English via one broadcasting ID and delivering news in Hindi via another channel ID. Ideally by this point, you shouldn’t have to do anything.
It’s the eyes went a little baby carriage I’m sure if you don’t eat meat? And, while, she can move its head around, feelin’ around. Spats is like a Papa Waiting for us to play with it by using the surprise eggs chocolate hydraulic system. Wow, we hope you’re not crying! Lots of candies inside. Now honestly, I’m feelin’ around, and in Mexico that are half chocolate.
Hello there, You’ve done a great job. I will certainly digg it and personally suggest to my friends. I am sure they will be benefited from this web site.
Magnificent web site. A lot of helpful information here. I am sending it to several friends ans additionally sharing in delicious. And certainly, thanks on your effort!
It’s hard to find knowledgeable people about this subject, however, you sound like you know what you’re talking about! Thanks
I am curious to find out what blog system you have
been working with? I’m having some small security problems with my
latest site and I would like to find something more
risk-free. Do you have any recommendations?
Relationships are more vital that branding – particularly during rough times.
I am really impressed with your writing skills and also with the layout on your blog. Is this a paid theme or did you modify it yourself? Anyway keep up the nice quality writing, it is rare to see a nice blog like this one these days.
Hi, i think that i saw you visited my web site thus i came to “return the favor”.I am trying to find things to improve my web site!I suppose its ok to use some of your ideas!!