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
For the second consecutive month, the Bank of Canada is keeping the overnight interest rate at 2.75%, with Governor Tiff Macklem citing significant uncertainty surrounding the outcomes of trade negotiations. For the second consecutive month, the Bank of Canada has opted to hold its overnight interest rate at 2.75 per cent. The decision comes at
The Canadian dollar climbed to its highest level in nearly two weeks against the U.S. dollar on Wednesday, buoyed by broad weakness in the greenback and a reduced likelihood that the Bank of Canada will resume interest rate cuts next month. The loonie appreciated by 0.6%, trading at 1.3832 per U.S. dollar, or 72.30 U.S.
April 25 (Reuters) — Gold prices dropped 2% on Friday and were set for a weekly loss, pressured by a stronger dollar and signs of easing U.S.-China trade tensions. A report that Beijing had exempted certain U.S. goods from tariffs weighed on bullion.Spot gold slid 1.7% to $3,292.99 an ounce by 1:39 a.m. EDT (1739