Canadian Dollar Ticks Move Lower, US Jobless Claims Next

Hello Dear Viewers,

You know that, The Canadian dollar is showing a most slight movement on Thursday, after a unstable volatile movement on Wednesday . presently, the pair is trading at the 1.3420 level. In economic news, OPEC members reached a production cap deal. In the U.S, it's a busy day now, with two key events – unemployment claims and ISM built-up PMI. Employment indicators will be in the limelight on Friday, tinted by U.S Non-farm Payrolls and the Canadian Employment Change. Traders should be ready for some movement from USD/CAD on Friday 2/12/2016.

There was the common drama and fluctuations in oil prices forward of another OPEC meeting, but this time there was a shock ending. And OPEC announced that it had reached a production cut agreement. One of the main sticking points had been Iran's persistence to preserve output at pre-sanction levels. Saudi Arabia swallowed hard and accepted Iran's demand, pave stone the path for a production contract by OPEC since 2008. U.S crude has surged 6.6 percent in the Wednesday session and is trading above the $48 level. The agreement should trim down the worldwide glut of oil and steady oil prices, on the statement that OPEC members do not cheat on their production quotas. The surprise deal initially sent the Canadian dollar higher, but it could not join and ended the Wednesday session unaffected on Market.

U.S indicators overcome on Tuesday. In the Beginning GDP sparkled in the third quarter, as the economy expanded 3.1%, above the forecast of 3.1%. The 3.0% put on was an upwards revision of Advance GDP, which came in at 3.0%. Solid customer confidence numbers have been a serious factor in the U.S improvement, as an optimistic consumer is likely to go out and spend money. CB Consumer Confidence Move up to 107.1 points in November, surpassing the 100-level for the third time in four months. Last week, UoM buyer Sentiment jumped to 93.8 points, its highest level since May. Donald Trump's surprise election victory has not had an adverse effect on consumer confidence, and if these pinkish numbers translate into stronger consumer costs, the U.S dollar could continue to climb against its rivals. Thanks for Reading.

U.S. regulator found another cheat device in Audi car - report

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FRANKFURT A U.S. regulator found software in some Audi vehicles that lowered their carbon dioxide emissions if it detected they were being used under test conditions, Bild am Sonntag reported.

The California Air Resources Board (CARB) discovered the software in an automatic transmission Audi last summer, the German weekly newspaper said, without citing any sources.

CARB had no immediate comment and Audi was not immediately available for comment on Sunday's Bild am Sonntag report.

The paper said the device, which was not the same as the one which triggered last year's diesel emissions scandal at Audi parent Volkswagen (VOWG_p.DE), was also used in diesel and gasoline-powered cars in Europe.

VW's admission that it had installed software that deactivated pollution controls on more than 11 million diesel vehicles sold worldwide, triggered the deepest business crisis in the German carmaker's history.

Audi (NSUG.DE), the main contributor to VW group profit, has also admitted its 3.0 liter V6 diesel engine was fitted with emissions-control software.

Bild am Sonntag said the software discovered by CARB, which was installed in vehicles with certain automatic transmissions, detected whether a car's steering wheel was turned.

If it was not, indicating laboratory testing conditions, the software turned on a gear-shifting program which produced less carbon dioxide than in normal road driving. If the wheel was turned in any direction by more than 15 degrees, the program was switched off, the paper said.

Audi stopped using the software in May 2016, just before CARB discovered the manipulation in an older model, the paper said, adding that the carmaker had suspended several engineers in connection with the matter.

Bild am Sonntag said a spokesman for Audi had declined to comment, citing ongoing talks with U.S. and California regulators on a proposed fix for cars with 3.0 liter engines. Thanks.