The Canadian dollar strengthened against its major rivals in early European deals on Wednesday.
The loonie climbed to a 5-day high of 1.3176 against the euro around 3:15 am ET, up from 1.3219 hit late New York Tuesday. The near-term resistance for the Canadian currency is seen around the 1.3110 level versus the common currency.
The Canadian dollar also edged higher to 0.9915 against the US dollar and 89.26 against the yen around the same time. If the loonie extends rally, likely resistance levels are seen at 0.9860 against the greenback and 89.55 against the yen.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.