The Canadian dollar finished the week slightly stronger against the Greenback, rallying on the surge in oil prices amid turmoil in the Middle East and North Africa.

A rapidly rebuilding correlation between the Canadian dollar and underlying risk sentiment bodes ill for the currency as Friday's underwhelming US jobs report threatens to rekindle broad-based risk aversion.

The Canadian dollar finished the week marginally lower against the US dollar, hurt by falling crude oil prices as well as a late-week surge in the US dollar.

The Canadian dollar recouped the losses from earlier this month as the economic docket reinforced an improved outlook for the region, and the commodity currency may continue to strengthen over the following week as market participants speculate the Bank of Canada to normalize monetary policy further this year.

The advance in the loonie marks the four successive week that the currency rallied against the greenback.

The Canadian dollar was the only major currency that pushed higher against the greenback.

The bullish breakout in the British pound may gather pace in January as it carves out a bottom during the holiday trade, but the exchange rate may consolidate over the following week as the economic docket is expected to reinforce a weakened outlook.

The Canadian dollar lost ground against its U.S. namesake this past week, falling some 0.44 percent.

The Canadian dollar was mixed on the week as it gained against most of the majors outside the greenback and British pound.