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.
fantastic publish, very informative. I wonder why the other experts of this sector do not realize this. You should proceed your writing. I’m confident, you’ve a great readers’ base already!
I was wondering if you ever considered changing the page layout of your website? Its very well written; I love what youve got to say. But maybe you could a little more in the way of content so people could connect with it better. Youve got an awful lot of text for only having one or two images. Maybe you could space it out better?
If the drainpipe would certainly be unused entirely for a year (such as a drain in an empty home), the price would be rewarding, but I can not see utilizing such a pricey item for a shower drain that is used rarely, however IS used sometimes … not when there are economical items that will do the trick.
Debt consolidation UK will act as a case against her is politically motivated.
Send a completed Application for Enrollment as an On-Site Sewage Facility(OSSF) Upkeep Professional and also a $111 application charge to the Texas Commission on Environmental Top quality.
Additionally, financial abuse can happen when a caregiver or other particular person tips or pressures an elder to divulge beneficial data, equivalent to checking account and credit card numbers.
Actually no matter if someone doesn’t know after that its up to other viewers that they will assist, so here it occurs.
The boost you get from these Acquire Instagram Followers deals is nothing brief of phenomenal.
Someone essentially lend a hand to make significantly articles I might state. This is the very first time I frequented your website page and up to now? I amazed with the analysis you made to make this particular submit extraordinary. Excellent activity!
Su gran ventaja es que los PDF los leen todas y cada una de las tabletas y lectores electrónicos, incluyendo el Kindle.