The Canadian dollar held steady against its major rivals in early trading on Monday as traders will have their eyes on statistics Canada's third quarter gross domestic product report.
In the oil front, light sweet crude oil price for January delivery is presently quoted at $76.12 a barrel, up $0.07 from its previous close of $76.05 a barrel in New York on Friday. Prices have earlier touched as high as $76.85 per barrel.
The Canadian GDP report will be made public at 8:30 am ET. The Canadian economy contracted 3.4 percent in the second quarter of 2009, the statistics Canada said earlier. Month on month basis, the GDP was down 0.1 percent in August.
The Statistics Canada will also release its October industrial and raw material price index at 8:30 am ET.
The Canadian dollar that closed last week's deals at 1.5913 against the euro moved range-bound in the early morning deals today. The euro-loonie pair traded in a range between 1.593 and 1.586 and the pair is presently quoted at 1.59.
The euro stabilized after the eurostat report showed that the eurozone consumer prices rose 0.6% year-on-year in November, recovering from a 0.1% decline in the previous month. Economists were looking for an increase of 0.5%. Final CPI data is due on December 16.
Inflation in the 16-nation bloc was in the negative territory since June. Meanwhile, the European Central Bank aims to keep inflation rates below, but close to 2% over the medium term.
Elsewhere, Italy's consumer price index or CPI including tobacco rose 0.7% year-on-year in November, a preliminary report from Istat showed Monday. It follows 0.3% increase in October. Economists had expected 0.8% rise. On a monthly basis, the CPI rose 0.1%, slightly less than the 0.2% growth economists predicted.
The Canadian dollar that jumped to a 4-day high of 82.33 against the Japanese yen in early Asian trading on Monday pared gains shortly. The loonie-yen pair then drifted lower to 81.28 before leveling off around 3:20 am ET. The pair that closed last week's deals at 81.38 is presently quoted at 81.77.
Industrial production in Japan was up 0.5 percent on month in October, the Ministry of Economy, Trade and Industry said in a preliminary report today, posting an index score of 89.9. That was sharply lower than analyst expectations for a 2.5 percent increase following the 2.1 percent gain in September.
The Canadian dollar halted its early morning rally versus the US dollar during early European trading today. The loonie that advanced to a 4-day high of 1.0538 against the greenback around 2:40 am ET moved mostly in a sideways pattern thereafter. The greenback-loonie pair, which closed Friday's deals at 1.0635, is presently quoted at 1.058.
Across the boarder, the results of the National Association of Purchasing Management-Chicago's business survey for November are scheduled to be released at 9:45 AM ET. Economists expect the business barometer index based on the survey to come in at 53.0.
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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.