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.
Hey I know this is off topic but I was wondering if you knew
of any widgets I could add to my blog that automatically tweet my newest twitter
updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this.
Please let me know if you run into anything. I truly enjoy reading
your blog and I look forward to your new updates.
It’s an amazing paragraph in support of all the online users; they will take advantage
from it I am sure.
It’s going to be finish of mine day, however before ending I am reading this wonderful piece of writing to
improve my experience.
What improbable service.
Thanks a bunch for sharing this with all folks you really recognize what you are
speaking approximately! Bookmarked. Please also discuss with my
site =). We can have a hyperlink alternate arrangement among us
Pretty great post. I simply stumbled upon your weblog and wished to mention that I have truly enjoyed browsing your weblog posts.
After all I will be subscribing to your feed and I hope you
write once more soon!
Very nice article, totally what I needed.
Right here is the right website for anyone who would like to understand this topic.
You know a whole lot its almost hard to argue with you (not that I actually will need to…HaHa).
You certainly put a fresh spin on a subject which has been discussed for a long time.
Wonderful stuff, just great!
Hello! This is my 1st comment here so I just wanted to give a quick shout out and
say I genuinely enjoy reading through your blog posts. Can you suggest any
other blogs/websites/forums that go over the same topics?
Many thanks!
It is actually a nice and useful piece of info. I’m glad that you shared this
helpful information with us. Please keep us up to date
like this. Thanks for sharing.
Thanks a bunch for sharing this with all folks you
really understand what you’re speaking approximately!
Bookmarked. Please additionally visit my web site =). We will have
a link alternate agreement between us
Learn how to earn money from Bitcoin in 2015, with this information to one
of the best opportunities and probably the most vital dangers.
I have read so many posts concerning the blogger lovers however this post is in fact a good article, keep it up.
An outstanding share! I have just forwarded this onto a co-worker who was doing a little research on this.
And he actually ordered me breakfast because I found it for him…
lol. So let me reword this…. Thank YOU for the meal!!
But yeah, thanks for spending some time to discuss this subject here on your web
page.
Do anyone notice involving HSV ERASER method previously?
I’m sure the vast majority of a person don’t learn everything with this priceless program.
Very well, Let me inform you every little thing
with this software. HSV Eraser is a method which usually allows just about every
genital herpes virus virus sufferer in order to heal herpes
virus contamination permanently. This program will be fully determined by pure herpes treat
thus you will find not any likelihood of obtaining the
side effects. This program has recently treatment a huge number of herpes simplex virus affected individual forever right up until 2015.
I’ve seen numerous sufferer proclaiming that they have already been healed from genital herpes virus virus disease by simply adopting the actions provided within the HSV ERASER.
Today HSV ERASER will probably expose another level of herpes treat 2016 plan. This course propose
the top natural powerful things which in turn really helps to eliminate the herpes simplex virus along with concurrently helps you to raise the disease fighting capability so that the patient are able to
struggle much better by herpes contamination.
It’s not my first time to visit this site, i am visiting
this site dailly and obtain good information from here daily.
Hi, I do think this is an excellent site. I stumbledupon it 😉 I’m going
to return yet again since I saved as a favorite it.
Money and freedom is the best way to change, may you be rich and continue
to guide other people.
Wonderful website. Plenty of helpful info here.
I’m sending it to several buddies ans also sharing in delicious.
And certainly, thanks to your effort!