• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home World News Us & Canada

Loonie’s plunge just one consequence of Trump tariff threat on your wallet – National

November 26, 2024
in Us & Canada
Reading Time: 3 mins read
A A
0
Loonie’s plunge just one consequence of Trump tariff threat on your wallet - National
2
SHARES
4
VIEWS
Share on FacebookShare on Twitter


The loonie is shaping up as an early casualty of U.S. president-elect Donald Trump’s latest trade threats against Canada, with knock-on impacts expected elsewhere in Canadian pocketbooks.

The value of the Canadian dollar dropped to a four-and-a-half-year low of 70.53 cents to the U.S. greenback late Monday in the wake of Trump issuing renewed threats via social media for 25 per cent tariffs on all imports from Canada and Mexico.

The loonie regained some value through the morning on Tuesday but was down 0.7 per cent over the past day and held below the 71-cent mark by 10 a.m. eastern.

Despite a rally late last week, the Canadian dollar has largely faltered against its American counterpart since the U.S. election earlier this month.

Much of that weakness has been tied to promises Trump made during the campaign to levy blanket tariffs against other nations and install other protectionist, America-first policies — moves that encourage investors to pile into the U.S. dollar, hurting other currencies.

Story continues below advertisement

2:00
Loonie closes at its lowest level in almost 5 years


The Canadian dollar is also affected by the differential between the policy rates of the Bank of Canada and the U.S. Federal Reserve, with a wider gap hurting the loonie. Signs that Canada’s central bank may rein in the pace of interest rate cuts helped to fuel the loonie’s short-lived rally last week.

Trending Now

  • Ottawa apologizes, announces $45M compensation for Nunavik Inuit dog slaughter

  • Will Canada’s tax ‘holiday’ create a ‘mess’ for businesses? Some say yes

Get weekly money news

Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.

A weaker Canadian dollar makes imports to the country more expensive, which risks reigniting inflation that has cooled in recent months.

The impact of the sagging loonie is already being felt at the grocery store, BMO senior economist Sal Guatieri told Global News last week.

Canada is set to import more fresh food from the U.S. as the winter approaches, which Guatieri said means Canadians can expect to pay more as the looming Trump presidency keeps the loonie “on the defensive.”

Story continues below advertisement

—With files from Global News’ Anne Gaviola.

1:51
Weak Canadian dollar to fuel food inflation


&copy 2024 Global News, a division of Corus Entertainment Inc.





Source link

Previous Post

Pawel Skonieczka, Deutsche Bank – Commercial Space Transformers

Next Post

Germany stumbles on fiscal rules it championed for EU

Related Posts

New Orleans holds burial of repatriated African Americans whose skulls were used in racist research

New Orleans holds burial of repatriated African Americans whose skulls were used in racist research

June 1, 2025
3
Calgary police to deploy enhanced security measures during busy street festival season

Calgary police to deploy enhanced security measures during busy street festival season

June 1, 2025
3
Next Post
Reichstag building in Berlin, Germany

Germany stumbles on fiscal rules it championed for EU

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0
New Orleans holds burial of repatriated African Americans whose skulls were used in racist research

New Orleans holds burial of repatriated African Americans whose skulls were used in racist research

June 1, 2025
UK government to spend £1.5bn on six new weapons factories

UK government to spend £1.5bn on six new weapons factories

June 1, 2025
The Straits Times logo

Korea’s presidential front runner Lee Jae-myung backs nuclear power — for now

June 1, 2025
South Korea’s snap presidential election 2025: All you need to know

South Korea’s snap presidential election 2025: All you need to know

June 1, 2025

Recent News

New Orleans holds burial of repatriated African Americans whose skulls were used in racist research

New Orleans holds burial of repatriated African Americans whose skulls were used in racist research

June 1, 2025
3
UK government to spend £1.5bn on six new weapons factories

UK government to spend £1.5bn on six new weapons factories

June 1, 2025
3
The Straits Times logo

Korea’s presidential front runner Lee Jae-myung backs nuclear power — for now

June 1, 2025
4
South Korea’s snap presidential election 2025: All you need to know

South Korea’s snap presidential election 2025: All you need to know

June 1, 2025
2

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Cybersecurity
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

New Orleans holds burial of repatriated African Americans whose skulls were used in racist research

New Orleans holds burial of repatriated African Americans whose skulls were used in racist research

June 1, 2025
UK government to spend £1.5bn on six new weapons factories

UK government to spend £1.5bn on six new weapons factories

June 1, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co