Friday, the Canadian dollar showed mixed trading against its major counterparts as the curde oil prices were steady under $44 today, after sinking 4 percent overnight on fears that the deepening financial crisis would further crimp energy demand.
The loonie declined to an 11-day low against the Japanese yen and a 3-day low versus the European currency. Meanwhile, the loonie showed strength against the US and the Australian dollars. The loonie rose to a 2-day high against the aussie.
U.S. crude was up 13 cents at $43.74 a barrel by 3:30 a.m. EST, and is down 2 percent this week, while London Brent crude gained 6 cents to $43.70 a barrel.
Against the US dollar, the Canadian dollar showed strength during early deals on Friday. At 3:40 am ET, the loonie reached a high of 1.2790 against the dollar, compared to 1.2914 hit late New York Thursday. The dollar-loonie pair is currently trading at 1.2842 with 1.30 seen as the next target level.
The Canadian dollar that closed Thursday's North American session at 1.6194 against the European currency declined to a 3-day low of 1.6324 at 5:05 am ET Friday. The next downside target level for the Canadian currency is seen around 1.646. The euro-loonie pair is now worth 1.6270.
Against the Japanese yen, the Canadian currency traded down during Friday's early deals. At 5:25 am ET, the loonie-yen pair touched an 11-day low of 75.16, compared to Thursday's closing value of 76.00. If the pair falls further, 74.7 is seen as the next target level.
The Canadian dollar edged up against its Australian counterpart during today's early deals. The loonie that closed Thursday's New York deals at 0.8245 against the aussie climbed to a 2-day high of 0.8188 at 4:40 am ET. On the upside, 0.812 is seen as the next target level for the loonie.
Looking ahead, all eyes will be on the Labor Department's monthly non-farm payroll report, which has been slated for release at 8:30 am ET. Economists estimate that the U.S. economy lost 615,000 jobs in February and look for an unemployment rate of 7.5%.
Philadelphia Federal Reserve Bank President Charles Plosser is scheduled to participate in a panel discussion on the future role of government in the financial system at a conference on Restoring Financial Stability: How to Repair A Failed System at New York University Stern School of Business at 12 pm ET.
The U.S. Federal Reserve is expected to release its monthly consumer credit report at 3 pm ET. Consumer credit for January is likely to show a decline of $4 billion.
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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.