The US dollar is trading in a bearish manner in today's European session, following comments from Ben Bernanke that have led to increased risk appetite in the market. This has allowed the Canadian loonie to extend gains over the greenback, sending the US dollar to an intra-day low.

Commodity prices and stocks have advanced this morning following news that industrial orders in the eurozone jumped the most in two years. The MSCI global index has shown its longest advance in nearly a month and currency rates for the higher yielding currencies have advanced. Later in Canada retail sales are due and positive figures could boost the Canadian dollar even further against the greenback, yen and euro.

The Canadian dollar is currently valued at USD0.9275, GBP0.5622 and EUR0.6477.

The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.