The Canadian dollar edged lower against its major counterparts on Thursday morning in Asia as commodity related assets fell on downbeat Chinese manufacturing PMI report.
The loonie is presently trading at a 2-day low of 1.3147 against the euro and 0.9940 against the greenback. On the downside, the Canadian currency may find support levels at 1.3170 against the euro and 0.9970 versus the US dollar.
Meanwhile, the Canadian dollar climbed to an 8-day high of 1.0344 against the Australian dollar due to across the board weakening of the latter. If the loonie strengthens further, 1.03 is seen as the next likely resistance level.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.