The loonie hit week and a half highs versus the euro and greenback on Friday in New York. Investors digested higher U.S. oil prices.
Crude oil prices turned sharply higher amid further violence in the Gaza Strip. Light sweet crude for February delivery jumped to $46.08, up $1.48 for the session. Oil touched as high as $46.78, its highest mark since Dec. 17.
The Canadian dollar rose to a week and a half high versus the U.S. dollar on Friday. The loonie climbed to 1.2064 just after 12:00 pm ET, up from 1.2270 in the early morning. Traders assessed a report showing U.S. manufacturing activity fell more than expected in December.
The loonie advanced to week and half high against the euro on Friday. The Canadian dollar reached 1.6750 just after 1:00 pm ET, up from an early morning low of 1.7095. Investors considered reports showing French, German and Euro zone manufacturing activity unexpectedly fell in December.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.