The Canadian dollar on Monday recorded its biggest one-day advance since early June as the price of crude oil surges and US dollar weakened against its major rivals.
The loonie touched 76.92 US cents from Friday’s 76.17 US cents.
A bit of US dollar weakness, oil firmness, and China positivity… “the usual suspects whenever you see a Canadian dollar move,” said Adam Button, Currency Analyst at ForexLive.
China vowed to take action to boost their economy after another round of disappointing figures, which bolstered global market sentiment and the loonie.
The material has been provided by InstaForex Company – www.instaforex.com