The Canadian dollar went up today against its U.S. counterpart as the gains of the U.S. equities and the improving conditions on the U.S. housing market bolstered the currencies tied to the growth, including the loonie. The Canadian currencies declined somewhat versus the euro.

The Standard & Poor’s 500 Index rose by 1.1 percent. The futures for crude oil, main Canadian export, traded near $78.99 per barrel after touching $79.30 per barrel on July 22, the highest level since May 5 on a closing basis. The new home sales in the U.S. reached 330,000 in June, compared to the median forecast of 317,000.

The Canadian dollar tends to move according to the commodity prices and the risk appetite. Today the appetite for the risk was definitely present at the markets.

USD/CAD reached 1.0322 today as of 22:17 GMT after it opened at 1.0372. EUR/CAD currency pair went up to 1.3402 from the opening level of 1.3377.

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