The Canadian dollar slid to its weakest level in nearly two weeks on Tuesday, weighed down by widening Canada-U.S. interest rate spreads and signals from the Bank of Canada that it remains focused on supporting the domestic economy. The loonie traded 0.2% lower at 1.3840 against the U.S. dollar, or about 72.25 cents U.S., after
The Bank of Canada has lowered its key interest rate by 25 basis points to 2.5 per cent, a move that comes as trade tensions and global uncertainty continue to weigh on Canada’s economy. The rate cut was widely expected after new inflation data showed consumer prices rising 1.9 per cent in August compared to
The recent surge in gold and silver prices has sparked renewed debate among investors: is this just another short-term rally, or the beginning of a longer structural trend? In a wide-ranging conversation on Seeking Alpha’s Investing Expertspodcast, market commentator Clem Chambers shared his views on why precious metals are moving higher, how geopolitics plays a central role, and
In recent days, many Iranian-Canadians have expressed concern about their bank accounts being closed or frozen. Some even connect this issue to the so-called “snapback mechanism.” But is there really a link? What Is the Snapback Mechanism? The snapback mechanism is part of the 2015 nuclear deal (JCPOA). Under this rule, if Iran fails to
A foreign exchange strategist issued a bearish outlook for the Canadian dollar on Monday, projecting the loonie could slip toward 70 cents against the U.S. dollar as other major currencies gain strength. Dan Tobon, head of G10 FX Strategy at Citi Research, said he doesn’t foresee a sharp collapse but expects factors such as the
Canada’s housing market showed signs of renewed activity in June, with home sales increasing for a second consecutive month. However, economists remain cautious about declaring a full recovery. According to data released Tuesday by the Canadian Real Estate Association (CREA), national home sales rose 2.8% in June compared to May, building on a 3.6% gain in May. CREA
The Trump White House had ambitiously pledged to secure “90 deals in 90 days” following a partial pause in implementing what President Trump referred to as “reciprocal” tariffs. However, in reality, fewer than nine agreements are expected to be finalized by the administration’s initial deadline of July 9. What’s particularly revealing is the decision to
HSBC has revised its average gold price forecasts upward for the next two years, attributing the change to increased geopolitical tensions and robust investor demand for the metal, according to a Reuters report. The bank now projects gold to average $3,215 per ounce in 2025 and $3,125 per ounce in 2026, up from its previous estimates of $3,015 and $2,915, respectively.
June 16 (Reuters) – Gold fell more than 1% on Monday as investors locked in profits following an earlier rally to an eight-week high. Market attention shifted to escalating Israel-Iran tensions and the upcoming U.S. Federal Reserve policy meeting. Spot gold declined 1.2% to $3,392.86 per ounce by 1:53 p.m. EDT (1753 GMT), after briefly reaching
NEW YORK, June 18 (Reuters) – Oil prices ended higher on Wednesday after a turbulent trading session, as investors assessed the risk of supply disruptions stemming from the ongoing Iran-Israel conflict and the possibility of direct U.S. involvement. Brent crude futures edged up by 25 cents to settle at $76.70 per barrel, while U.S. West Texas