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The Canadian dollar has slipped to its lowest level in five years, weaker than at any point since 2015 outside the COVID lows. Experts said it could fall below 70 US cents and possibly toward 68 cents.
About 75% of Canadian exports go to the US, and the decline has accelerated since Trump's re-election.
A weaker loonie lowers the USD cost of Canadian exports, which can support Canadian grain and oilseed competitiveness but raises import costs for Canadian feed users. Persistent weakness adds to the trade-tension risk around cross-border flows.
cbc.caPeter ArmstrongNov 22, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
