Global stocks rose as strong earnings helped to underpin investor sentiment in the face of growing signs that the global economy is slowing and a still unresolved trade dispute between the United States and China.
Canada runs a current account deficit and exports many commodities, including oil, so its economy could benefit from an improved outlook for the global flow of trade or capital.
US crude oil futures were up 0.3 percent at $53.27 a barrel despite fresh data on surging US fuel stocks.
At 9:12 a.m. (1412 GMT), the Canadian dollar was trading 0.6 percent higher at 1.3277 to the greenback, or 75.32 US cents. The currency, which on Thursday touched its weakest intraday level in more than two weeks at 1.3375, traded in a range of 1.3274 to 1.3360.