The Canadian dollar, which has been bullish against its US counterpart despite a brief gap down deals at the beginning of the Asian session, extended Friday's rally in early deals on Monday.
The loonie jumped to a 6-day high of 1.0340 against the greenback around 6:45 am ET, having appreciated almost 0.8 percent since a successful re-testing of the key 1.04 level on October 10.
Next likely resistance for the Canadian currency is seen around the 1.0310 level, with a major resistance beyond this area being visible on the 200-day simple moving average level of the pair at 1.0250.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.