Western Union notes:
The loonie started June with a swoon, keeping in close range of mid-April lows against its U.S. peer. Oil prices slipped below $60, weighing on the commodity-driven Canadian dollar.
Fresh concerns about the shape of the northern economy also weighed on the loonie after Canada on Friday reported that first quarter growth contracted 0.6 percent on an annual basis, the first reading in the red in nearly four years.
Big data on the loonie calendar this week include trade on Wednesday and employment on Friday.
