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.
The colors are still true, and the embroidery featured along the waistline of this dress will draw attention to your trim physique and elegant style. Afterwards, back off and try changing that attitude of yours. They are nice to have in the office just in case you lose the air condition battle with your boss or want to dress up your outfit for a casual dinner with a friend. It’s also a good idea to ask about the wedding’s theme colors if there are any. com is another great layout that keeps the theme perfectly centered in the realm of spring, with a primarily green and pink layout with yellow and white accents. Each guest is given a piece to be consumed after dinner. Or, sometimes a company may host a gala simply as an elegant way to celebrate the holidays with employees.
Supercell’s sneak peeks from November revealed that shields would no longer be rewarded when town halls are destroyed.
Worry the Evil HissThis error is one I ashamedly admit to.
Constantly iron DRY hair.
Let the group at The Locksmith secure your belongings with our broad range of experience in the safety sector.
The whole Clash of Clans chop equipment originated by way of a cyberpunk out of Swedish and it is the best location amongst hackers required for traveling gaming’s favorite.
To discover far more about our solutions and lock and important merchandise, take a appear at the links below or contact us at (919) 231-8017 to speak with one particular of our friendly locksmith technicians.
Auch wenn man sich hier für eine Mitgliedschaft entscheiden muss, um nackte Mösen sehen zu können, so kann man sich doch auch mit kostenlose Muschibilder eindecken.
Sie zeigen gern mal etwas von ihrem Körper exotische Frauen nackte Fotzen unterm Minirock für echte schwarze Frauen Liebhaber.
I’m really enjoying the design and layout of your blog. It’s
a very easy on the eyes which makes it much more enjoyable
for me to come here and visit more often. Did you hire out a developer to create your theme?
Fantastic work!
To make it simple and also lightweight to use, which consumers in lots of level iron evaluations remain to love, while likewise becoming as
near to the origins as possible.