Canadian dollar jumps near 7-month peak

The Canadian dollar rose on Monday near its 7-month high, lifted by oil prices recovery and the new housing price index jump to an all-time high.

Official data showed today that the new housing price index in Canada rose by 26% in July which is its all-time high.

Additionally, the recovery in oil prices lifted the Canadian dollar, as Canada is one of the world's largest oil exporters.

The Canadian Prime Minister Justin Trudeau and the Finance Minister Bill Morneau expressed that a meeting is scheduled later today to resolve differences over the government budget, Reuters quoted sources.

Otherwise, the Canadian 10-year Treasury bonds yield fell by 2.9 basis points to 0.584%.

As of 16:12 GMT, CAD/USD rose 0.5% to 0.7574, after hitting an intraday high of 0.758 and a low of 0.751.