The Canadian dollar declined against its major rivals in European deals on Tuesday, as oil prices fell following the emergence of deal with Iran and six world powers that limits Iran’s nuclear programme in exchange for removing international economic sanctions.

Crude for August delivery fell $1.04 to $51.16 a barrel.

The accord, reached at Vienna, is intended to end the standoff between Iran and western powers led by U.S. that lasted for nearly 12 years.

The International Atomic Energy Agency confirmed that it has signed a roadmap with Iran in order to resolve all outstanding questions it has about the country’s nuclear programme by the end of the year, the IAEA’s director general Yukiya Amano said.

“By 15 December 2015, the director general will provide… the final assessment on the resolution of all past and present outstanding issues,” he added.

Meanwhile, the European stocks are trading mixed, as optimism about the Greek deal faded and traders await Greek parliamentary approval for reforms package in exchange for EUR 86 billion rescue aid.

The loonie showed mixed performance against its major rivals in the Asian session. While the loonie declined against the yen, it rose against the euro and the aussie. Against the greenback, the loonie held steady.

In European deals, the loonie eased to 96.37 against the yen, from an early high of 96.97. The next possible support for the loonie-yen pair is seen around the 95.5 zone. At yesterday’s close, the pair was worth 96.85.

The loonie depreciated to 1.2803 against the greenback, its lowest since March 18. This is down by 0.5 percent from yesterday’s closing quote of 1.2739. Next key support for the loonie may be located around the 1.30 mark.

The loonie fell to a 5-day low of 0.9513 against the aussie, down from a high of 0.9422 hit at 7:00 pm ET. Continuation of the loonie’s downtrend may lead it to a support around the 0.955 region.

The loonie reversed from an early 5-day high of 1.3984 against the euro, edging down to 1.4119. If the loonie extends slide, 1.42 is possibly seen as its next support level. The pair was worth 1.4013 when it ended yesterday’s deals.

Data from Eurostat showed that Eurozone industrial production declined unexpectedly in May largely due to a fall in energy output.

Industrial production was down 0.4 percent month-on-month in May after staying flat in April. It was forecast to rise 0.2 percent in May.

Looking ahead, U.S. retail sales data, import price index and U.S. NFIB small business index, all for June and U.S. business inventories for May are set to be published in the New York session.

The material has been provided by InstaForex Company – www.instaforex.com