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.
The study will focus on one hundred respondents in the bid to establish the underlying causes of poor
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We intend to discuss about fibroids in this post and if you happen to be reading this article article then you will know every one of the feature
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You are going to find out about the natural fibroids treatment.
Exactly what are the significant signs and symptoms of fibroids?
The main triggers of fibroids and exactly how somebody deal better
with fibroids?
Fibroids as we understand only develop by the woman through
the productive years. Fibroids can be described as benign tumor which occurs in or perhaps around the wall of uterus (Womb).
This is usually a kind of non-cancerous tumour which will usually doesn’t
cause virtually any signs and symptoms. This can be an exceptionally common tumor all over the world as more than 170 million persons struggling
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To become alarmed for any kind of varieties of treatment in the event that
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If we speak about the complexities that may lead the fibroids, we
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specific triggers of fibroids. However, we could name some reasons which may bring about cause the fibroids.
Some sources believe fibroids run in families which means if you are struggling from fibroids the possibilities are you may inherit
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