Oil prices keep lower, The Canadian dollar was lower against the U.S. dollar on Monday, response tracking declines in oil prices which fell to more than six-year lows amid ongoing concerns about the global supply glut and the demand outlook. Oil prices going to lower and deeper
Canadian dollar currency pairs USD/CAD hit highs of 1.3153, not far from the 11-year peaks of 1.3212 set on August 5 and was last at 1.3119.
Meanwhile oil futures index fell to the lowest level in six-and-a-half years on Monday after data showing that Japan's economy contracted in the second quarter fueled fears that slowing growth in Asian economies and Asian emerging market will weigh on the demand outlook for oil. And drive the oil prices as the demand outlook
Another clue, Oil prices were also hit after a report showing an uptick in the rig count last week supported expectations that U.S. producers will ramp up activity in the coming months, adding to fears over a global supply glut.
As we knew that Earlier this year the Bank of Canada cut interest rates in response to a rout in oil prices, citing the impact on the inflation outlook.
The Canadian dollars found some support after Statistics Canada reported that foreign investment in Canadian securities rebounded in June.
Investors still confident, Non-residents bought C$8.51 billion in Canadian assets, more than offsetting May's decline. Overall investment in the Canadian money market reached a record C$12.04 billion the report said. Not so bad
Meanwhile safe haven currency US DOLLAR shrugged off a report showing that manufacturing activity in the New York region slumped to its lowest level since November 2009 this month.
The U.S financial authorities, The Federal Reserve Bank of New York said that its general business conditions index dropped to -14.9 this month from 3.86 in July as new orders and shipments fell sharply. Exports activities become slower
Canadian dollar currency pairs USD/CAD hit highs of 1.3153, not far from the 11-year peaks of 1.3212 set on August 5 and was last at 1.3119.
Meanwhile oil futures index fell to the lowest level in six-and-a-half years on Monday after data showing that Japan's economy contracted in the second quarter fueled fears that slowing growth in Asian economies and Asian emerging market will weigh on the demand outlook for oil. And drive the oil prices as the demand outlook
Another clue, Oil prices were also hit after a report showing an uptick in the rig count last week supported expectations that U.S. producers will ramp up activity in the coming months, adding to fears over a global supply glut.
As we knew that Earlier this year the Bank of Canada cut interest rates in response to a rout in oil prices, citing the impact on the inflation outlook.
The Canadian dollars found some support after Statistics Canada reported that foreign investment in Canadian securities rebounded in June.
Investors still confident, Non-residents bought C$8.51 billion in Canadian assets, more than offsetting May's decline. Overall investment in the Canadian money market reached a record C$12.04 billion the report said. Not so bad
Meanwhile safe haven currency US DOLLAR shrugged off a report showing that manufacturing activity in the New York region slumped to its lowest level since November 2009 this month.
The U.S financial authorities, The Federal Reserve Bank of New York said that its general business conditions index dropped to -14.9 this month from 3.86 in July as new orders and shipments fell sharply. Exports activities become slower
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