Markets

CANADA ECONOMICS: Loonie Gets a Lift from Stronger Oil

Canada's dollar appreciated versus its U.S. counterpart, gaining from almost the lowest level this month, as crude oil and stocks advanced, brightening the outlook for currencies tied to growth, according to Bloomberg.

Bloomberg said the loonie fell the most last week since the 5 days through Nov. 4 on speculation European leaders are failing to contain the region's debt crisis. The currency added 0.3% to C$1.0357 per U.S. dollar at 7:42 a.m. in Toronto, after weakening to C$1.0415, the least since Dec. 14, when it reached the low for the month of C$1.0424.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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