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Canadian Dollar Drops To 2-day Low Against Euro And Greenback

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.

by RTTNews Staff Writer

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