Loonie Gains Versus Other Majors [USD/CAD]
Wednesday, April 02, 2008 4:12:34 PM - The Canadian dollar saw strength against its major counterparts on Wednesday in New York. The loonie hit a weekly-high against its neighboring counterpart from south of the border and also rallied to short-term high against some others.
Crude Oil Surges To Challenge $105
Wednesday, April 02, 2008 3:49:33 PM - Oil prices surged higher on Wednesday as Fed chief Ben Bernanke`s remarks to congress that a recession is possible led traders to turn to the hedge of commodities. Light sweet crude for May delivery closed at $104.83, up $3.85 on the session on the session. Prices dropped to as low as $99.84 after the Department Energy released its report on oil inventories in the week ended March 28, showing that crude oil inventories rose much more than expected while gasoline inventories fell more than expected.
Gold Rises After Bernanke`s Remarks
Wednesday, April 02, 2008 3:14:10 PM - Gold prices gained on Wednesday after Fed chief Ben Bernanke said that he believed the economy may see further weakness, boosting gold`s hedge value. June gold finished the session at $900.20, up $12.40 on the session. With the rally, the metal took back a portion of its sharp losses from the three previous sessions.
source:RTTNews.com
