Trump, Canadian Dollar and tariff
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The Canadian dollar weakened against the greenback on Friday, and the yield on benchmark government debt climbed. The loonie was trading 0.2% lower at C$1.3678 to the greenback, or 73.11 U.S. cents, after trading in a range of 1.
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The Canadian Dollar (CAD) has dropped to 207.88 Pakistani Rupee (PKR) as of today, down from the July 4 rate of 209.06 PKR. This follows a
The Canadian dollar edged higher against its U.S. counterpart on Thursday but the move was modest as the greenback notched broad-based gains and after new U.S. trade tariffs cast doubt about prospects of a trade deal this month between Canada and the United States.
Canadian Ivey Purchasing Managers Index (PMI) figures improved in June, bouncing back above the 50.0 contraction level following a two-month decline in aggregated business expectations. The Canadian economy is still on rocky footing overall, and CAD traders will be looking ahead to this week’s Canadian net hiring figures due on Friday.
US stocks close the day and week lower after Trump slaps Canada with a 35% tariff, escalating tensions. Bitcoin hit a new record high for a third day.
Canada's finance minister has asked all ministries to find savings, assess spending on programs, cut down on work duplication and look to reallocate funds from other programs to priority projects, a government official said on Monday.
The USD/CAD pair extends its recovery move to near 1.3700 during European trading hours on Wednesday, the highest level seen in over a week. The Loonie pair bounced back after revisiting nine-month low around 1.3550, following the release of the better-than-projected United States (US) Nonfarm Payrolls (NFP) data for June.