The Canadian dollar continued to creep higher against the US dollar in early European trading on Wednesday, mainly due to across the board weakening of the latter. The loonie touched 1.0550 against the greenback around 2:30 am ET, the highest level since January 26 and the next target level for the pair is likely seen at 1.0540.
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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.