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.
We conserved ourselves a good section of that expense by recruiting our grand sons to do the digging and also re-filling, at half the cost.
Glass-on-glass pipes have many benefits in the case of attaining the purest smoke attainable.
I pay a quick visit each day a few blogs and sites to read articles, however this weblog provides quality based articles.
Hi my friend! I want to say that this post is amazing, nice written and include almost all vital infos. I would like to see more posts like this .
Woah! I’m really digging the template/theme of this blog. It’s simple, yet effective. A lot of times it’s hard to get that “perfect balance” between usability and visual appeal. I must say that you’ve done a awesome job with this. Also, the blog loads very quick for me on Chrome. Exceptional Blog!
Your Instagram profile gains a lot more effectiveness as the amount of followers and likes increase on it. It guarantees your social media presence and helps you grow to be popular. And acceptance is genuinely required if you are operating a enterprise and using your Instagram profile for marketing it. Recognition is also required if you are heading to phase-in your occupation and want to demonstrate your talent to the complete world. And on Instagram, popularity is calculated by the variety of your followers and likes.
Hi are using WordPress for your blog platform? I’m new to the blog world but I’m trying to get started and create my own. Do you need any html coding knowledge to make your own blog? Any help would be greatly appreciated!
As a public firm, FitBit will probably be traded on the New York Stock Trade below the FIT” ticker.
Its such as you learn my thoughts! You appear to know so much approximately this, like you wrote the guide in it or something. I feel that you just can do with a few percent to pressure the message house a little bit, however instead of that, this is excellent blog. An excellent read. I will certainly be back.
These users have genuine desire in connecting with you.