Canadian Dollar Climbs to Three-Week High
The Canadian currency strengthened for the Christmas- shortened week against all 16 of its most-traded counterparts as the nation’s economy gained for a second straight quarter and retail sales increased. U.S. reports this week showed sales of existing American homes and orders for durable goods rose. The Canadian unemployment rate remained at 8.5 percent in December, a report may show on Jan. 8. The Canadian dollar has spun into life,” said Andrew Wilkinson, senior market analyst at Greenwich, Connecticut-based Interactive Brokers Group Inc. “Being America’s largest trading partner, Canada benefits from the U.S. recovery.
The beauty of this is that Canada is a resource-rich country, so investors are more willing to own the Canadian dollar than the U.S. currency. It’s a perfect storm.”The loonie, which was poised to outperform its major counterparts for the month, gained more than 2 percent this week versus the currencies of New Zealand and Australia, which like Canada export commodities.
Crude oil for February delivery climbed to $78.25 a barrel on the New York Mercantile Exchange yesterday, the highest level since Dec. 2. It increased 11 percent over the past two weeks. Copper for March delivery rose 2.8 percent this week, touching a 15-month-high of $3.3040 a pound on the New York Mercantile Exchange’s Comex unit. A Canadian commodity price index compiled by the Bank of Canada advanced more than 20 percent this year.
Raw materials generate half of Canada’s export revenue. The MSCI World Index, a measure of stocks in 23 developed markets, advanced 2.5 percent this week. The Standard & Poor’s 500 Index rose for each of the past five trading days, touching an almost 15-month high. U.S. orders for durable goods excluding transportation gained 2 percent in November, a Commerce Department report showed yesterday, almost twice as much as economists forecast. Sales of existing U.S. homes increased last month to the highest level in almost three years, the National Association of Realtors said on Dec. 22.
Tourists get astonishing breakfast smorgasboard with Obama during a White House
A couple of Tourists who recently were ushered into a White House breakfast buffet with President and Michelle Obama even though they did not have an invitation. All Harvey and Paula Darden planned on doing when they showed up at the White House was take a tour that their congressman helped arrange for them. Unfortunately, they arrived a day earlier than they were supposed to. This turned out to be a good thing. When they arrived saying they were there for a tour, the White House staff person lead the Dardens into the East Room.
There the couple found themselves chowing down food in the midst of people who were not dressed in tourist attire. The buffet was for veterans–something neither of the Dardens are. But, according to the White House staff, because the Dardens had been cleared by security like all the other guests—and since there wasn’t a tour, they were given breakfast instead. The only reason we know about this incident is because the Dardens became worried after Tareq and Michaele Salahi crashed the state dinner two weeks after the Dardens’ visit. The Dardens, I suppose, felt it necessary to come forward to tell about how their off the cuff visit happened.
It wasn’t something they planned. They don’t want people to get the wrong idea about them. They are not event crashers who tried to pull one over on the White House. Hopefully, the Dardens’ splash into national news won’t halt the unexpected buffet invites for the rest of us who might show up at the White House for a legitimate reason but on the wrong day.
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