The Canadian currency, which had been losing versus its U.S. counterpart, climbed the most in more than a week today, as a U.S. retail sales report brought optimism and consequently risk appetite among traders, favoring the loonie in foreign-exchange markets.

Another day of optimism brought the Canadian currency up today, as retail sales surged in the United States, indicating that economic conditions in North America are improving steadily, making the loonie to benefit from such scenario, since the U.S. is by far the main destination of Canadian products.

USD/CAD traded at 1.0722 as of 21:19 GMT from a previous rate of 1.0852 yesterday.

If you want to comment on the Canadian dollar’s recent action or have any questions regarding this currency, please, feel free to reply below.