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.
I precisely desired to thank you very much once more. I do not know the things I would have worked on without these secrets provided by you concerning this concern. This has been a very traumatic setting in my opinion, nevertheless taking a look at the very expert technique you managed that took me to cry with gladness. Now i am happy for the support and hope you really know what a great job you happen to be accomplishing instructing many others by way of a web site. I am certain you’ve never met all of us.
I believe this is among the such a lot important info for me. And i’m satisfied reading your article. However want to commentary on some common things, The site taste is great, the articles is truly excellent : D. Good job, cheers
For most up-to-date news you have to pay a quick visit world wide web and on web I found this site as a best site for hottest updates.
I haven’t checked in here for a while since I thought it was getting boring, but the last few posts are great quality so I guess I’ll add you back to my daily bloglist. You deserve it friend 🙂
Helsinki, Finland, is in fact the place exactly where Clash of Clans was developed and the Clash of Clans developer Supercell’s HQ is in Helsinki, as properly.
Online games are too accessible in CD’s, which can be installed in the computer. He should check the company’s background from the history of payouts. You may be envisioning the buffet lines and long flights when you hear the word casino, but what if you could get all the best parts of the vip casino experience right from home.
We come to the specified destination within mins as well as guarantee that the car locking system is taken care of quickly.
The repair work, upkeep, and replication of contemporary vehicle locks, ignitions, transponder keys, as well as keyless remotes call for modern equipment.
The Water High quality Association, or WQA, claims salt-based water softeners are not hazardous to septic tanks.
I don’t even know the way I finished up here, however I believed this put up was good. I don’t realize who you might be but definitely you’re going to a well-known blogger should you are not already 😉 Cheers!