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Oil settlement day occurs on the 25th of every month when Canadian oil companies settle the current month's futures contracts priced in U.S. dollars for Canadian dollars
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Daily Forex Forecast
By FX Unigma
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22 Jul 2004 10:40 GMT


Bearish S African Rand Climate Developing?
JOHANNESBURG (Dow Jones)--The recent strength of the rand could be about to unwind in the coming sessions, says ABN Amro. ZAR-negative commentary from Finance Minister Manuel and more bullish USD sentiment could serve to shake out ZAR longs. ABN has entered a long USD/ZAR position through 1-mo call spread with strikes at 6.00 and 6.29 (spot reference 5.96. Trading at 6.0480. (AES)