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>>Canadian dollar slides, the loonie weakening to 1.3700 amid growing global tariff uncertainty

Canadian dollar slides, the loonie weakening to 1.3700 amid growing global tariff uncertainty

crypthub

about 12 hours ago

Loonie Weakens to 1.3700

The Canadian dollar slipped to around 1.3700 against the US dollar, a key technical level. The move reflects broader trade tension and shifting monetary expectations. Traders view the level as a signal of further weakness.

Domestic Pressures

Volatile oil prices and mixed Canadian growth and inflation data pressure the loonie. The Bank of Canada’s policy options are constrained by these factors. Meanwhile, a hawkish US Federal Reserve widens the interest‑rate gap, bolstering the dollar.

Global Tariff Uncertainty

Renewed fears of protectionist tariffs threaten Canada’s export‑driven economy. Supply‑chain disruption and lower foreign demand weigh on the currency. Risk‑off sentiment favours safe‑haven assets, further depressing CAD.

Central Bank and Market Psychology

The BoC must juggle higher import costs from a weaker loonie against export competitiveness. The 1.3700 zone triggers algorithmic trading and option‑hedging flows. Expect continued volatility until trade and policy outlooks clarify.