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.
3) They try to conceal most if not all their porn files or porn use. For one thing, men have a great deal of difficulty talking about feelings. It will also scan and clean downloaded files as well as email attachments and protect against software and Internet vulnerabilities.
Téléchargez notre extension, veillez à ce que vous êtes sur le bon web site et de vérifier une adresse sur un nom Boom Beach Hack de l’écran.
What’s up friends, its wonderful piece of writing concerning cultureand fully explained, keep it up all the time.
Tax obligation preparation software application has contending interests: ease
of use, reliability, and cost.
Me cautivaba la idea de estar con una mujer con sabiduría y que no buscara nada serio.
The remote control includes 3 different frequencies, and you can operate the car from up to 8 meters. Once you do that take a spray bottle filled with 4 cups of warm water and a tablespoon of detergent and spray the stain. It is available in two versions of petrol and diesel and has been a very reasonable price.
In this situation, unless the will made other arrangements, the
heir obtaining the family members home will certainly either have to contribute his own money,
get a home loan, and even offer the the home of pay his share of the inheritance tax.
Increasing taxes, on the various other hand, simply makes businesses alter their investment,
tax and spending actions in order to find means of reducing their tax obligation expense, which usually leads to an overall
decrease in profits for the government.
A carpeted ground is a phenomenal, useful, and economical flooring possibility for households with youngsters and pets.
You’re so awesome! I don’t believe I’ve read through anything like that before. So good to discover someone with a few original thoughts on this subject. Really.. many thanks for starting this up. This site is one thing that is needed on the web, someone with a bit of originality!