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.
Thus, a specialist controls your account on your behalf with
all the support with this application.
The perfect example of asymmetry is the One Shoulder Silky Knit Long Dress, which is available in red or turquoise with a side slit skirt and a fabric flower-detailed bodice. “What variety of a robe should I actually wear within wedding ceremony. Right now I’m working on that and writing music, and I can’t wait to hopefully put some stuff out soon. James Farrell shared the news with his wife, who did her own online contrasting shopping. Notably, you can get these celebrity inspired looks at an affordable cost and easily from the comfort of your home. I touched the flowing colourful fabric and oohed and aahed over ever different design of dress. Let’s look at a common household item, bottles of fabric softener.
So make sure you are aware of the requirements you will need to get your business started. Wearing vest in the office or at work put it on with a classic white tailored shirt with a black leg dress kind of pants. You will most likely find your item at a better price than in the stores. There are usually many key competitors the two regarding pure-play on the internet and the ones bricks-and-mortar merchants with a good online presence. “How to Grow Your Business Online,” Black Enterprise Magazine -. ) and are unisex, with generous sizing so both sexes can wear them comfortably.
The Dual Energy Total Home is a fast and highly effective carpet washer with dual rotating brush bars for double the cleaning motion.
Our carpet stands up to high-traffic put on and resists life’s spills and stains like by no means earlier than.
Hello There. I discovered your weblog using msn. That is an extremely neatly written article. I’ll be sure to bookmark it and return to read extra of your useful info. Thank you for the post. I will definitely return.
Hi! I’ve been following your weblog for a while now and finally got the courage to go ahead and give you a shout out from Dallas Tx! Just wanted to mention keep up the good work!
Hi colleagues, how is the whole thing, and what you want to say concerning this article,
in my view its really awesome in favor of me.
The crossing signifies the numerous unfavorable influences of the problem or situation. But exactly where the 3 shows a high degree of creativity, the 4 may sometimes display a stagnation.
Let’s face it, Terri Moulton Horman is a person of interest. Why did I not stop and think about why diet plan was not working? Those were words echoed by one of the Comic Book heroes of my teenager.