Canadian dollar reaches 7-week low on global anxiety

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Source: Bloomberg
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Canadian dollar fell against US dollar to a 7-week record low as surging Italian yields signalled that European debt crisis is deepening. According to Hidetoshi Honda, the strategist of Mizuho Corporate Bank, the sentiment towards Eurozone's debt is plunging every day. Canada's national currency lost 0.4% against its US peer and reached C$1.0515 in Toronto morning trading session. The pair currently trades at C$1.0494.

 

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Fri, 25 Nov 2011 15:01:33 GMT

Pound appreciates against Euro

On Friday British pound appreciated against Euro as investors perceived UK's national currency as safe haven amid Eurozone's debt fears. The Pound appreciated versus 14 of 16 it major counterparts. Sterling gained 0.7% reaching ВЈ0.8553  versus EUR. Jane Foley, Rabobank International's senior strategist believes the sterling may appreciate towards euro reaching ВЈ0.8485. The pair currently is trading at ВЈ0.8555.

Fri, 25 Nov 2011 14:08:20 GMT

Lukoil's quarterly net income below forecast

Russia's largest private oil producer OAO Lukoil Holdings reported the net profit in Q3 decreased by 20%. The company announced net profit for period was $2.24 billion as compared to $2.82 billion in 2010. The current profit is far away from expected $3.18 billion, according to a survey conducted by Dow Jones Newswires. Overall production of the company declined by 5.3% to 2.11 million barrels

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