Extending previous session's rally, the Australian dollar touched 1.0440 against its Canadian counterpart around 8:15 am ET Monday, its strongest level since August 14.
The aussie-loonie pair has been trading higher since it met the key demand zone of 0.9915/60 in early October. The currency cross is expected to extend its rally towards the key supply level of 1.0590/1.06.
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Forex 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.