Following the release of Canada's GDP report for May at 8:30 am ET, the Canadian dollar remained weaker against its major opponents. As of 8:31 am ET, the loonie was trading at 1.2333 against the euro, 1.0030 against the greenback and 77.97 against the yen.
The Canadian economy expanded 0.1 percent in the month and 2.4 percent on the year in May. Analysts had expected the growth slow to 0.2 percent in the month. Annually, the economy was expected to expand 2.6 percent from 2.0 percent growth recorded in the previous month.
Canada's industrial product price and raw materials price indexes for June have also been released at 8:30 am ET. Both data came in line with market expectations.
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Business 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.