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.
DEPART is finest used with DO- CEASELESSLY loops, use GO AWAY solely when one other Do-Finish construct isn’t appropriate.
When these have cooled the canes are sliced across. The cross part seems to be like a collection of flowers, therefore the title millefiori (a thousand flowers).
Tip: Use a small block of wooden underneath the highest of the body to tilt it reasonably than laying flat.
Plenty of other points.
Hi, I think your blog might be having browser compatibility issues.
When I look at your website in Ie, it looks fine
but when opening in Internet Explorer, it has some overlapping.
I just wanted to give you a quick heads up! Other then that, amazing
blog!
He was actually a feral cat that is partial and he nonetheless uses
plenty of time outdoors with different ferals (that people do care for) but no skin concerns have been seen by me on any one of them.
This piece of writing presents clear idea in support of the new
viewers of blogging, that truly how to do blogging.
Great list, thank you!
Use the ITERATE instruction to terminate the current iteration by means of the DO group, but to proceed looping.
Not only does on-line procuring hold benefits close to being stress free, handy and being able to make
your purchases in private, however shopping on-line is tailor-made
by enterprise so that buyers reap the advantages of doing so.
For instance the cost of retail hire per m² is nearly quadruple the cost of industrial hire per m².
When a business’s overheads are decrease, the consumer stands
to realize in the long term. This is a savings to
the business that actually impacts on the pocket of its shoppers.
Shoppers stand to save and benefit from this very actuality.
Travelling back and forth to the shops, wear and tear on vehicles additionally quantify as
savings over the long run for the patron.
Nowadays let’s appear at a several products to exfoliate mix into form and spoil that epidermis of yours so we can produce 2016
year yet and consider structured action!
The customer support is second to none; help e-mails are answered in a matter of minutes, even late at night!
Remember, creditreports released advise you need
to use equally Whitening Lotion inside the mix for
best results.