Canadian financial markets reopen today. The session is expected to be subdued with American markets closed for the Independence Day holiday.

The Canadian dollar is at 89.96¢ US this morning, up 0.37¢ from Friday, when the currency declined 0.38¢.

Crude oil remains near $74 US a barrel amid concerns about heightened American gasoline demand during the busy summer driving season.

The Toronto stock market surged almost 100 points on Friday, ending a week that saw the U.S. Federal Reserve hinting it may pause its interest-rate hikes, and prices surged for metals, notably gold, and oil.

However, some analysts are warning of further backsliding because of speculative excesses have yet to show up in the market.

In Europe stocks are down. The U.K.’s FTSE 100 index declined 0.5% to 5,858. The German DAX Xetra 30 index dipped 0.2% to 5,704 and the French CAC-40 index fell 0.4% to 4,959.

In Asia, the markets finished their day more positively. The Nikkei 225 gained 66.88 points, or 0.43%, to finish at a one-month high of 15,638.50. It was the Nikkei’s fourth-straight winning session – the longest streak of gains in two months. Hong Kong’s Hang Seng Index gained 0.26% to finish at 16,368.98.