The US dollar extended its recent downtrend against the Canadian dollar during early European session on Thursday, falling to 0.9907 around 5:00 am ET, its weakest level since November 7.
The greenback-loonie pair is trading well-below its 38.2 percent retracement level of 0.9945 between a high in June and a low in September. The next downside target for the pair could be its 23.6 percent retracement at 0.9830.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.