The Canadian dollar weakened against other major currencies in the European session on Thursday, as investor mood was negatively impacted by the escalation of international trade and the conflicts in the Middle East.
New attacks in the Middle East stalled the signing of a U.S.-Iran peace agreement, delaying the reopening of the Strait of Hormuz, a critical waterway for the global energy market and trade.
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Market Analysis
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.