Reversing direction, the U.S. dollar dropped against the Canadian currency in early European deals on Wednesday.
The greenback is now trading lower at 1.0389 against the loonie, off its near 1-year high of 1.0420 hit at 1:55 am ET. The greenback-loonie pair is poised to seek next downside target level around 1.03. The pair finished yesterday's trading at 1.0396.
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Forex 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.