WINNIPEG — A chart of the loonie’s value in 2024 shows that something changed in early October. For the first nine months of the year, the Canadian dollar was trading between 72 and 74 cents American. On Oct. 1, the loonie was valued at 74.1 cents relative to the U.S. dollar. It then sharply declined, […] Read more
Tag Archives Canadian dollar
Canadian dollar shows weakness
The Loonie has suffered less than the euro, which has dropped by nearly three per cent since the U.S. election
The U.S. greenback has been on a tear since the election, with the nearby U.S. dollar index trading just over 106 points. This represents a three per cent gain in the U.S. dollar since pre-election lows. The dollar index is a trade-weighted basket of currencies and gives an indication of the strength of the U.S. […] Read more
Loonie’s value depends on timing of interest rate declines
Many economists expect central banks will begin winding down interest rates this summer, and that will likely affect currency exchange rates, including the Canadian dollar. One thought circulating among economists and analysts is that because of the surprisingly strong economy in the United States, its central bank, the Federal Reserve, could remain wary of inflation […] Read more
