Oil prices are slightly higher on the news that polls indicate that Greeks might put in pro-bailout politicians in after the new elections next month. Oil is helping the loonie against the greenback.
With oil prices inching higher, the Canadian dollar is finding some support. Oil is a major export for Canada, and as oil prices rise, the loonie finds a measure of support. However, the Canadian dollar is also receiving help from improvements in the global economy, and in a more optimistic outlook. Some of the trading is hampered, though, by the Memorial Day holiday in the United States.