During early deals on Monday, the Canadian dollar rose to a 12 1/2-month high against the US currency as oil rose over 1 pct and topped $72 a barrel today on growing optimism about the pace of the global economic recovery.
U.S. crude for November delivery rose 40 cents to $72.17 by 12:02 am ET, adding to last week's 2.6 percent gain. London Brent crude rose 43 cents to $70.43.
The loonie also jumped to a 2-month high against the European currency, traded near a 7-week high versus the Japanese yen and hit a 1-week high against the Australian dollar.
The Canadian currency that reached a 12 -1/2-month high of 1.0410 against the US dollar during early Asian deals on Monday weakened thereafter. At 9:20 pm ET, the loonie slipped to 1.0454 against the dollar before bouncing back. Currently, the dollar-loonie pair is trading at 1.0429 with 1.031 seen as the next resistance level. The pair closed Friday's North American session at 1.0436.
Against the European currency, the Canadian dollar edged higher during Monday's early deals. At 3:00 am ET, the loonie climbed to 1.5307 against the euro, compared to 1.5363 hit late New York Friday. This set the highest mark for the loonie since August 3, 2009. The next upside target level for the Canadian currency is seen around 1.508.
Germany's Federal Statistical Office announced today that the wholesale price index or WPI decreased 8.1% year-on-year in September, compared to the 8.3% fall in the previous month. A year ago, the WPI was up 5.1%.
On a monthly basis, wholesale prices dropped 0.2% in September, in contrast to a 0.7% increase in the previous month.
The loonie that closed Friday's New York deals at 86.11 against the Japanese yen traded near a 7-week high of 86.71 at 2:55 am ET Monday. On the upside, 87.9 is seen as the next target level for the pair.
Against its Australian counterpart, the Canadian dollar traded higher during today's early deals. At 3:05 am ET, the loonie rose to an 1-week high of 0.9373 against the aussie, compared to Friday's closing value of 0.9435. If the loonie gains further, 0.981 is seen as the next target level.
A report released by the Australian Bureau of Statistics said housing finance for owner occupation, which excludes alterations and additions, dropped a seasonally adjusted 1.7% month-on-month in August. Owner occupied housing commitments decreased to A$16.54 billion from A$16.83 billion in the preceding month.
At the same time, personal finance rose 4.1% to A$7.18 billion, and commercial finance increased 5.6% to A$28.51 billion. However, lease finance fell 9.4% to A$398 million, all in seasonally adjusted terms.
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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.