Highlights / Canadian dollar

Economy, International

As expected, Canada’s trade deficit widens as pandemic grows 

To nobody’s surprise, Canada’s trade deficit widened in March as the country was forced to cope with the COVID-19 crisis and the continuing drop in world oil prices. Statistics Canada figures released today show the deficit grew by more than »

Economy

Loonie to dive in relation to US dollar in 2017

The Canadian dollar, which is trading at around 74 cents US right now, could sink as low as 70 cents US in the first half of 2017, according to a report in The Globe and Mail. The Toronto-based newspaper says »

Economy

Canadian dollar drops below 75 cents US

The Canadian dollar sank below 75 cents US Friday, for the first time since March. For the week, the loonie fell 1.4 percent, its largest one-week decline since early May, according to Reuters. Analysts believe the slide was triggered by »

Economy, Politics, Society

History: June 30,1987: Introducing the ‘loonie’

In 1986, the Canadian government announced it would be introducing a new one dollar coin the following year. This was proposed as a cost saving measure to replace the one dollar banknote.  It was argued that banknotes lasted only a »

Economy

Low oil prices drag down Canadian dollar

The Canadian dollar dipped to a 12-year low on Wednesday morning, pushed below 71 cents U.S. by low oil prices and interest rate differences with the Federal Reserve. Early Wednesday, the loonie was trading at 70.90 cents U.S., down 0.55 »

Economy

Slumping oil prices tank Canadian dollar

Tumbling crude oil prices drove the Canadian dollar to its lowest level in 11 years on Monday, sparking fears for the country’s fragile economic recovery. The dollar was trading at 73.99 cents US around midday on Monday. That’s the first time the loonie has »