WASHINGTON, July 25 | Mon Jul 25, 2011 9:17pm EDT
(Reuters) – President Barack Obama said on Monday a temporary six-month extension of debt ceiling does not solve the problem and might not be enough to avoid credit downgrade.
Obama said he has told leaders of both parties they must come with a fair compromise in the news few days that can pass Congress. (Reporting byJoAnne Allen; editing by Christopher Wilson)
Mon Jul 11, 2011 5:10pm EDT
* C$ weakens to C$0.9690, or $1.0320 * Hits lowest level against US$ since June 30 * Touches strongest level against euro since March 14 * Equities, oil markets also trading lower * Bond prices higher across the curve By Trish Nixon TORONTO, July 11 (Reuters) - Canada's dollar weakened against the greenback on Monday, touching its lowest point this month, as fresh euro zone debt problems hurt investor demand for commodity-linked currencies. Global stocks dropped and the euro sank as worries that Italy could become the latest country caught up in the euro-zone debt crisis caused investors to snap up safe-haven U.S. Treasury debt. [MKTS/GLOB] "The story is still really for dollar/Canada one of risk aversion or risk appetite," said Shaun Osborne, chief currency strategist at TD Securities, predicting the success of Europe's response to the latest problem would set the near-term direction for the Canadian dollar. Oil, a key Canadian export often influential in the currency's movements, fell by more than a dollar on euro worries, while a drop in Chinese crude imports also rekindled concerns about a slowdown in demand. [O/R] The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, was down 0.86 percent. The currency CAD=D4 ended the North American session at C$0.9690 to the U.S. dollar, or $1.0320, down from Friday's finish of C$0.9607 to the U.S. dollar, or $1.0409. Earlier in the session it fell to C$0.9696, its weakest level since June 30. The news from Europe overshadowed reports showing strong Canadian housing starts and a marked improvement in the domestic business outlook. [ID:nN1E76A0YX] TD's Osborne anticipated Canadian dollar support at the C$0.9710 area. Should the currency rebound he expected resistance around the C$0.9550 and C$0.9560 levels. Osborne noted the Canadian dollar held up well against most other major currencies, especially the beaten-down euro. It touched its highest point since March 14 against the euro, with one Canadian dollar buying 73.83 euro cents. Canadian bond prices were higher across the curve, as investors shed their riskier assets in favor of safe-haven government bonds. The two-year bond CA2YT=RR was up 17 Canadian cents to yield 1.426 percent, while the ten-year bond CA10YT=RR rose 55 Canadian cents to yield 2.902 percent. Short term Canadian bonds outperformed their U.S. counterparts, while long-term bonds underperformed. (Editing by Jeffrey Hodgson) full story
Ms. Tongko’s primary responsibilities include new client lead generation. Ms. Tongko works with the Executive team with clients from startups to leading global teams. Ms. Tongko kas a substantial background in managing in-bound/out-bound international call centers. Previously, she worked with Mellon Investor Services as an Investor Representative and an analyst with US Airways.
Ms. Tongko obtained her Bachelor of Science in Tourism at ABE International College. She is fluent in English and Tagalog.
Jacqueline Tongko 