The Canadian dollar (CAD) has been gaining strength throughout the second half of 2024, driven by a combination of positive economic data, rising commodity prices, and investor confidence in Canada’s economic recovery. As of late August, the loonie is trading near multi-year highs against the U.S. dollar, reflecting the country’s solid economic fundamentals and its

Canada’s merchandise trade deficit widened significantly in May, reaching $1.9 billion, as reported by Statistics Canada. This development is attributed to a combination of declining exports and increasing imports, painting a complex picture of the nation’s trade dynamics. Exports fell by 3.6% to $52.5 billion in May, driven primarily by a sharp decline in energy