The value of the Canadian Dollar has declined against the US Dollar, primarily due to external influences such as the recent passing of a significant tax-cut plan in the US, which may redirect investment away from Canada. This scenario poses risks for Canadian economic growth and foreign investment. Additionally, concerns over new tariffs on imports, particularly copper, heighten market volatility and inflation fears. Despite a modest rise in domestic wholesale data, without solid economic reporting, the Loonie faces ongoing pressure, with upcoming GDP figures being crucial for its outlook.
The Canadian Dollar weakened against the US dollar, largely influenced by external factors.
Trump's decision to impose tariffs on copper imports has further compounded the already uncertain outlook for Canada's economy.
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