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fxJul 10, 2026, 8:16 AM

Canada June Employment Data to Drive Loonie as USD Stays Bearish

Canada's June employment report is expected to influence the Canadian dollar, while the US dollar remains under pressure. The Japanese yen also strengthened on reports that Japan may encourage pension funds to increase local investments.

USDCADUSDJPY

The upcoming Canadian employment data for June is set to be a key catalyst for the Loonie, as market participants watch for signals on the health of the labor market. The report comes amid a broader bearish trend for the US dollar across the FX market.

Separately, the Japanese yen recouped some losses after rumors emerged that Japanese authorities are considering urging pension funds to allocate more capital to domestic assets. This could potentially reduce selling pressure on the yen and support further gains.

Source: FXStreet Forex News