CAD & NZD at 6-Year Lows Against USD, Greek Parliament Approves Austerity Demands
July 16, 2015 6:51 am
A mixed overnight session for stocks, as the US finished the session in slight negative territory due to comments from Fed Chairwoman Janet Yellen and a decline in energy shares which couldn’t be halted by a rebound in the financial sector. Asian Shares finished the session in positive territory after a bailout plan put forward by Greece’s creditors was approved by the Greek Parliament, bringing short term relief to the markets. The Dow closed 3 points lower at 18,050, the S&P500 dropped 1 point to close at 2,107.
The Canadian Dollar was in focus after the Royal Bank of Canada cut interest rates to 0.5% from 0.75%, CAD was C$1.2936 to USD, briefly touching C$1.2958 which is its lowest level in six years. The NZD slid to $0.6498, around six year lows against the Greenback. USD traded at 123.85 Yen and in reach of a near three-week high of 123.97; the Euro dropped slight against the Dollar to $1.0922.
After the historic Iran Nuclear deal US crude rose just under 1% to $51.79 a barrel after collapsing 3% on Wednesday, with expectations that increased output from Iran will further add to the oversupply that has seen the slump in the oil market over the last year. Brent gained 0.4% to $57.42 a barrel.
Within the equity space, Rio Tinto on Thursday posted a sharp rise in second quarter iron ore output from a year ago as it battled to maintain its top market position in China, even as selling prices deteriorate and bad weather disrupted operations. The stock opened 0.5% lower at 2580p per share.
A mixed overnight session for stocks, as the US finished the session in slight negative territory due to comments from Fed Chairwoman Janet Yellen and a decline in energy shares which couldn’t be halted by a rebound in the financial sector. Asian Shares finished the session in positive territory after a bailout plan put forward by Greece’s creditors was approved by the Greek Parliament, bringing short term relief to the markets. The Dow closed 3 points lower at 18,050, the S&P500 dropped 1 point to close at 2,107.
The Canadian Dollar was in focus after the Royal Bank of Canada cut interest rates to 0.5% from 0.75%, CAD was C$1.2936 to USD, briefly touching C$1.2958 which is its lowest level in six years. The NZD slid to $0.6498, around six year lows against the Greenback. USD traded at 123.85 Yen and in reach of a near three-week high of 123.97; the Euro dropped slight against the Dollar to $1.0922.
After the historic Iran Nuclear deal US crude rose just under 1% to $51.79 a barrel after collapsing 3% on Wednesday, with expectations that increased output from Iran will further add to the oversupply that has seen the slump in the oil market over the last year. Brent gained 0.4% to $57.42 a barrel.
Within the equity space, Rio Tinto on Thursday posted a sharp rise in second quarter iron ore output from a year ago as it battled to maintain its top market position in China, even as selling prices deteriorate and bad weather disrupted operations. The stock opened 0.5% lower at 2580p per share.
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