FX.co ★ Canadian Dollar Weakens As Oil Prices Drop

The Canadian dollar depreciated against its most major counterparts in the European session on Monday, as weak economic data from China sent oil prices lower.

Crude for October delivery dropped $4.40 to 93.75 per barrel.

The loonie fell to nearly a 2-week low of 102.59 against the yen and a 4-day low of 1.3210 against the euro, off an early high of 104.56 and a 6-day high of 1.3093, respectively.

Against the greenback, the loonie was down at a 1-week low of 1.2934.

The next possible support for the Canadian currency is seen around 98.00 against the yen, 1.34 against the euro and 1.32 against the greenback.