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The Canadian dollar held higher against the US dollar on Wednesday as renewed US-Iran military strikes pushed crude prices higher, with Brent up 5.65% near $78.30, supporting the oil-linked Canadian dollar despite broader safe-haven demand for the greenback before the June Fed minutes later in the day. In Tuesday highlights, Canada's Ivey Purchasing Managers' Index dropped to 56.2 in June, compared with 58.2 in the previous month. The markets predicted a softer print of 59.1. In Wednesday's G10 trading, the CAD remained mostly bullish among other currencies. The high-impact event for the loonie will be the Unemployment Rate for June, due on July 10. For the USD, the major event will be the FOMC Minutes, due later on Wednesday. The USD/CAD pair was trading at 1.41768, with a 0.17% decline during Wednesday's American trading hours at the time of writing.

SQUAWKNEWS 2 updates Updated Jul 08, 2026, 02:01 PM UTC

Story updates

01:55:51 PM UTC
SquawkNews
The Australian dollar slipped against the US dollar on Wednesday as US President Donald Trump declared the Iran agreement over, lifting safe-haven dollar demand while traders largely ignored RBA Assistant Governor Hunter's warning that further tightening may be needed if oil-driven inflation persists. In Wednesday's G10 trading, the AUD remained mostly bearish among other currencies. The next high-impact release for the Aussie will be the Westpac Consumer Confidence Change for July and the NAB Business Confidence for June, due on July 14. For the USD, the major event will be the FOMC Minutes, due later on Wednesday. The AUD/USD pair was trading at 0.69264, with a 0.04% decline during Wednesday's American session at the time of writing.
02:01:30 PM UTC
SquawkNews
The Canadian dollar held higher against the US dollar on Wednesday as renewed US-Iran military strikes pushed crude prices higher, with Brent up 5.65% near $78.30, supporting the oil-linked Canadian dollar despite broader safe-haven demand for the greenback before the June Fed minutes later in the day. In Tuesday highlights, Canada's Ivey Purchasing Managers' Index dropped to 56.2 in June, compared with 58.2 in the previous month. The markets predicted a softer print of 59.1. In Wednesday's G10 trading, the CAD remained mostly bullish among other currencies. The high-impact event for the loonie will be the Unemployment Rate for June, due on July 10. For the USD, the major event will be the FOMC Minutes, due later on Wednesday. The USD/CAD pair was trading at 1.41768, with a 0.17% decline during Wednesday's American trading hours at the time of writing.

The Canadian dollar held higher against the US dollar on Wednesday as renewed US-Iran military strikes pushed crude prices higher, with Brent up 5.65% near $78.30, supporting the oil-linked Canadian dollar despite broader safe-haven demand for the greenback before the June Fed minutes later in the day.

In Tuesday highlights, Canada's Ivey Purchasing Managers' Index dropped to 56.2 in June, compared with 58.2 in the previous month.

The markets predicted a softer print of 59.1.

In Wednesday's G10 trading, the CAD remained mostly bullish among other currencies.

The high-impact event for the loonie will be the Unemployment Rate for June, due on July 10.

For the USD, the major event will be the FOMC Minutes, due later on Wednesday.

The USD/CAD pair was trading at 1.41768, with a 0.17% decline during Wednesday's American trading hours at the time of writing.