The Canadian dollar continued its early morning session's uptrend against the US dollar in North American afternoon deals on Tuesday as Canadian June building permits data was decreased.
The Statistics Canada said total value of building permits fell 2.5 percent to $6.8 billion in June, after gaining 7.1 percent in May. The decline was largely the result of a decrease in the non-residential and residential sectors in Alberta and British Columbia. This decrease followed a 3.6 percent gain in May.
The loonie climbed to a new multi-month high of 0.9965 versus the greenback at around 12:00 pm ET from yesterday's closing value of 1.0004. Currently, the pair id worth 0.9968.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.