March 8th, 2012
by, 03-08-2012 at 09:07 AM (115 Views)
Currencies USD/CAD Canadian dollar advanced versus the Greenback as policy makers prepared for a meeting today that economists predict will see interest rates remaining at 1 percent for a 12th time.
The euro slid 0.8 percent to $1.3112 at 5:01 p.m. in New York, after touching $1.3103, the lowest level since Feb. 16.
USD/JPY The yen weakened against all of its major counterparts after Japan posted a record current-account deficit, threatening to undermine the currency’s haven status.
Canadian dollar, rose 0.5 percent to 99.74 cents per U.S. dollar at 5 p.m. in Toronto after reaching C$1.0029 yesterday, the weakest level since Feb. 27.
Commodities Oil traded near the highest price in two days on signs that sanctions on Iran are succeeding in cutting its crude exports.
Contract for April delivery was at $106.38 a barrel, up 22 cents, in electronic trading on the New York Mercantile Exchange at 2:10 p.m. Singapore time. The contract yesterday increased $1.46 to $106.16 a barrel.
Gold climbed for a second day as record bullion holdings in exchange-traded products signaled stronger investor demand, while Greece’s progress toward a second bailout boosted the appeal of equities and commodities.
Spot gold gained 0.2 percent to $1,687.65 an ounce at 1:30 p.m. Asian session.