The Canadian dollar jumps today for the fourth day, erasing its monthly losses against the US dollar, as the positive outcome of the second Greek vote boosted commodities and stocks, increasing appeal of
The Greek Parliament first voted for the austerity and today the second vote (for implementation of the tightening measures) passed. August futures for delivery of crude oil, the key export of Canada, rose 0.4 percent to $95.10 per barrel in New York after it touched $95.84 yesterday, the highest level since June 15. The Standard & Poorâs 500 Index advanced as much as 1 percent, posting the fourth day of gains.
The loonie retreated somewhat after reaching the highest level this month against the greenback. Shane Enright, the executive director at Canadian Imperial Bank of Commerceâs CIBC World Markets, said:
The 96.5 level in Canada terms is sticky. It was stuck here several times on previous dips lower
USD/CAD dropped from 0.9693 to 0.9633 today as of 23:58 GMT and reached earlier 0.9623, the lowest level since May 13. EUR/CAD fell from 1.3990 to 1.3950. CAD/JPY advanced from 83.25 to 83.70.
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