Dominion Lending Centres Clearlease Reports Loonie lower, oil slides amid poor U.S. data, fallout from silver price tumble
VANCOUVER, BC – (May 5, 2011) Clearlease Reports The Canadian dollar was down almost a full US cent Thursday at midday as oil prices continued to slide amid worries about the U.S. economy and volatility spreading across many commodity sectors.
The currency lost 0.98 of a cent to 103.31 cents US, adding up to a drop of more than two cents this week as prices have also fallen sharply for gold, silver and copper.
The June crude contract on the New York Mercantile Exchange dropped $3.64 to US$105.60 a barrel, down from a 2½-year high above US$114 late last week.
Metal prices also retreated with the June gold contract on the Nymex down $18.50 to US$1,496.80.
Silver prices also continued to tumble with the July silver contract in New York down $2.92 to US$36.47 an ounce.
The drop came after the main U.S. metals exchange announced further hikes to margin requirements, or the money needed to put up to trade the previous metal.
The latest hike amounts to an 84 per cent increase in margin requirements in two weeks by CME Group Ltd., spread over four separate changes.
Silver prices are down over 20 per cent this week and analysts say volatility in the sector has spread to other areas since investors have been forced to sell other securities to meet higher margin calls. Silver had surged from under US$31 an ounce late last year to almost US$50 at the end of last week
Worries about U.S economic growth have grown this week, reflecting a disappointing read on employment growth and much lower than expected expansion in the service sector. The poor economic news had helped push oil down almost US$2 on Wednesday.
And on Thursday, the U.S. Labour Department reported that claims for unemployment insurance surged to 474,000 last week from 431,000. The U.S. government is scheduled to announce April non-farm payroll numbers Friday.
Traders are also looking ahead to the release of Canadian employment data for April on Friday. Economists expect that about 20,000 jobs were created last month.
Meanwhile, the European Central Bank left its key interest rate unchanged at 1.25 per cent after raising rates a quarter-point last month from the record low of one per cent and has made it clear that more increases are coming to contain inflation.
The Bank of England announced it was keeping its key interest rate at a record low of 0.5 per cent amid sluggish economic growth and a surprise drop in the inflation rate.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
VANCOUVER, BC – (May 5, 2011) Clearlease Reports The Canadian dollar was down almost a full US cent Thursday at midday as oil prices continued to slide amid worries about the U.S. economy and volatility spreading across many commodity sectors.
The currency lost 0.98 of a cent to 103.31 cents US, adding up to a drop of more than two cents this week as prices have also fallen sharply for gold, silver and copper.
The June crude contract on the New York Mercantile Exchange dropped $3.64 to US$105.60 a barrel, down from a 2½-year high above US$114 late last week.
Metal prices also retreated with the June gold contract on the Nymex down $18.50 to US$1,496.80.
Silver prices also continued to tumble with the July silver contract in New York down $2.92 to US$36.47 an ounce.
The drop came after the main U.S. metals exchange announced further hikes to margin requirements, or the money needed to put up to trade the previous metal.
The latest hike amounts to an 84 per cent increase in margin requirements in two weeks by CME Group Ltd., spread over four separate changes.
Silver prices are down over 20 per cent this week and analysts say volatility in the sector has spread to other areas since investors have been forced to sell other securities to meet higher margin calls. Silver had surged from under US$31 an ounce late last year to almost US$50 at the end of last week
Worries about U.S economic growth have grown this week, reflecting a disappointing read on employment growth and much lower than expected expansion in the service sector. The poor economic news had helped push oil down almost US$2 on Wednesday.
And on Thursday, the U.S. Labour Department reported that claims for unemployment insurance surged to 474,000 last week from 431,000. The U.S. government is scheduled to announce April non-farm payroll numbers Friday.
Traders are also looking ahead to the release of Canadian employment data for April on Friday. Economists expect that about 20,000 jobs were created last month.
Meanwhile, the European Central Bank left its key interest rate unchanged at 1.25 per cent after raising rates a quarter-point last month from the record low of one per cent and has made it clear that more increases are coming to contain inflation.
The Bank of England announced it was keeping its key interest rate at a record low of 0.5 per cent amid sluggish economic growth and a surprise drop in the inflation rate.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
Dominion Lending Centres Clearlease Reports Loonie lower, oil slides amid poor U.S. data, fallout from silver price tumble
VANCOUVER, BC – (May 5, 2011) Clearlease Reports The Canadian dollar was down almost a full US cent Thursday at midday as oil prices continued to slide amid worries about the U.S. economy and volatility spreading across many commodity sectors.
The currency lost 0.98 of a cent to 103.31 cents US, adding up to a drop of more than two cents this week as prices have also fallen sharply for gold, silver and copper.
The June crude contract on the New York Mercantile Exchange dropped $3.64 to US$105.60 a barrel, down from a 2½-year high above US$114 late last week.
Metal prices also retreated with the June gold contract on the Nymex down $18.50 to US$1,496.80.
Silver prices also continued to tumble with the July silver contract in New York down $2.92 to US$36.47 an ounce.
The drop came after the main U.S. metals exchange announced further hikes to margin requirements, or the money needed to put up to trade the previous metal.
The latest hike amounts to an 84 per cent increase in margin requirements in two weeks by CME Group Ltd., spread over four separate changes.
Silver prices are down over 20 per cent this week and analysts say volatility in the sector has spread to other areas since investors have been forced to sell other securities to meet higher margin calls. Silver had surged from under US$31 an ounce late last year to almost US$50 at the end of last week
Worries about U.S economic growth have grown this week, reflecting a disappointing read on employment growth and much lower than expected expansion in the service sector. The poor economic news had helped push oil down almost US$2 on Wednesday.
And on Thursday, the U.S. Labour Department reported that claims for unemployment insurance surged to 474,000 last week from 431,000. The U.S. government is scheduled to announce April non-farm payroll numbers Friday.
Traders are also looking ahead to the release of Canadian employment data for April on Friday. Economists expect that about 20,000 jobs were created last month.
Meanwhile, the European Central Bank left its key interest rate unchanged at 1.25 per cent after raising rates a quarter-point last month from the record low of one per cent and has made it clear that more increases are coming to contain inflation.
The Bank of England announced it was keeping its key interest rate at a record low of 0.5 per cent amid sluggish economic growth and a surprise drop in the inflation rate.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk