The Canadian dollar weakened against the other major currencies in the Asian session on Friday as oil prices declined, extending the brutal recent losses amid rising U.S. inventories.
Crude oil for January delivery are currently down $0.18 to $34.77 a barrel. Oil futures settled below $35 a barrel for the first time in six years Thursday.
“At 490.7 million barrels, U.S. crude oil inventories remain near levels not seen for this time of the year in at least 80 years,” said the Energy Information Administration yesterday.
Moreover, the Federal Reserve’s interest rate hike on Wednesday also weighed on the price of oil due to the dollar’s strength and fears that higher interest rates will weaken demand.
Meanwhile, the U.S. Labor Department released a report on Thursday showing a pullback in initial jobless claims in the week ended December 12th. The report said initial jobless claims fell to 271,000, a decrease of 11,000 from the previous week’s unrevised level of 282,000. Economists had expected jobless claims to pull back to 275,000.
Thursday, the Canadian dollar fell 1.00 percent against the U.S. dollar and 0.84 percent against the yen. Meanwhile, the loonie rose against the euro and held steady against the Australian dollar.
In the Asian trading, the Canadian dollar fell to a 4-day low of 87.74 against the yen, from yesterday’s closing value of 87.93. The loonie may test support near the 86.00 region.
Against the U.S. and the Australian dollars, the loonie dropped to 1.3954 and 0.9946 from yesterday’s closing quotes of 1.3936 and 0.9932, respectively. If the loonie extends its downtrend, it is likely to find support around 1.40 against the greenback and 1.00 against the aussie.
The loonie edged down to 1.5127 against the euro, from yesterday’s closing value of 1.5085. On the downside, 1.52 is seen as the next support level for the loonie.
Looking ahead, Eurozone current account data for October is due to be released at 4:00 am ET.
Also at 4 am ET, Austrian central bank chief Ewald Nowotny is expected to speak at press conference on Financial Stability Report, in Vienna.
In the New York session, Canada wholesale sales data for October and CPI data for November and Markit’s flash U.S. PMI reports for December and U.S. Baker Hughes weekly rig count data are slated for release.
At 1:00 pm ET, Richmond Federal Reserve Bank President Jeffrey Lacker is due to speak about the economic outlook for 2016 at the Charlotte Chamber of Commerce.
Most claims are topic to an extra which is stipulated in your coverage. When you opt for a better extra, your monthly premiums might be less. In a median policy the surplus is normally between 750 and a thousand. If you make your excess 2000, you will also shield your no-claim bonus, by not claiming for small amounts during the yr, which will lead to your premiums being lowered the next year.
I installed a similar alarm in my van, but a Clifford 590.2x. Has worked just fine even though for about a year now.
If your site is relatively sound, the most important results for you to consider are the keyword hits. So what are you going to put in their search box is “website optimization tips”. Thematic relevance is of key importance for the creation of quality backlinks. A reputable SEO company won’t have any qualms about connecting potential clients with former ones.
Although the upkeep expenses of solar powered illumination are little to none, the preliminary investment can be rather expensive, considering that the whole brand-new system needs to be purchased.
Some homeowners worry that photovoltaic panels on their roofs could come to be susceptible during storms.
Functions In all Climate Conditions – Clearly Solar And also Wind Power rely on an abundance of wind as well as sunlight to work successfully.
Hi there! This is kind of off topic but I need some guidance from an established blog. Is it tough to set up your own blog? I’m not very techincal but I can figure things out pretty quick. I’m thinking about making my own but I’m not sure where to start. Do you have any tips or suggestions? Appreciate it
MySQL and MSSQL databases are run on their very own servers which aren’t clustered.
An amazing place to buy almost any type of bijou on the
earth is Ebay.
There I was with these ideas going off and decisions to purchase a certain shade once more.