The December Canadian Dollar futures contract rose for the third time in the last four sessions, marking its strongest gain of the period. The loonie has now risen about 0.67% since its six-month low on October 14th. This appreciation follows relatively strong Canadian economic data, including the September Industrial Producer Price Index and the Raw Materials Producer Price Index, which posted an 8.4% year-over-year increase—the highest since March. Higher-than-expected Consumer Price Index readings for common, headline, and core CPI suggest the Bank of Canada may be unlikely to lower rates, which can be supportive of the Canadian Dollar. Furthermore, rising crude oil prices tend to strengthen the Canadian Dollar, as oil is one of Canada's largest exports, primarily produced in the Alberta oil sands and Saskatchewan’s heavy oil fields.