TORONTO, June 26 (Reuters) - The Canadian dollar rose against the U.S. currency on Friday morning, boosted by firm commodity prices and as the greenback weakened on a revival in investors’ thirst for assets perceived to be riskier.
At 7:34 a.m. (1134 GMT), the Canadian currency was at C$1.1487 to the U.S. dollar, or 87.05 U.S. cents, from Thursday’s finish at C$1.1562 to the U.S. dollar, or 86.49 U.S. cents.
The Canadian dollar retreated “rather sharply” over the past few days so it seemed like it was due for a pause, said David Watt, senior currency strategist at RBC Capital Markets.
“Oil prices rallied over night, equity markets rallied overnight — so positive sentiment on markets overall. That tends to be a positive Canadian dollar environment,” said Watt.
Oil CLc1, a key Canadian export, rose above $71 a barrel on Friday, in part, after reports of a Nigerian attack in a Royal Dutch Shell (RDSa.L) oilfield. [ID:nSIN249975]
A weaker greenback and global equity markets also underpinned strength in the Canadian currency. [FRX/] [MKTS/GLOB]
However, U.S. stock index futures pointed to a weak open on profit taking. [ID:nN26316997]
The firmness comes after the Canadian dollar fell against the U.S. dollar on Thursday, at one point touching its lowest level since mid-May.
Canadian bond prices were mostly lower across the curve, mimicking its U.S. counterparts with treasury prices down as investors booked profits and eyed inflation and consumer data later in the session. [ID:nLQ075618] (Reporting by Jennifer Kwan; Editing by Theodore d’Afflisio)