The Australian dollar extended yesterday's downtrend against its Canadian counterpart in early European deals on Wednesday.
The aussie fell below the key 0.99 level against the Canadian dollar around 2:50 am ET and was holding on that level since then.
The next downside target level for the aussie-kiwi pair is seen at 0.9885, its May 31st low and a move below that level could set its weakest mark in more than 2-years.
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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.