Canadian Money Brief | October 19, 2026 CFB Wainwright Fire: What We Know and How to Help Without Getting Scammed Four Canadian soldiers are dead and 39 people were hurt after a grass fire overtook a live-fire training exercise in Alberta. When tragedy hits, Canadians want to help. Scammers know it. What happened On Saturday, October 17, a fire ignited in a training area at Canadian Forces Base Wainwright, about 200 km southeast of Edmonton. Officials say it began as a grass fire during training that included grenades and live ammunition. Military leaders said the fire was known to range control for hours and was believed to be contained enough for training to continue. Then the wind turned. Reporting from Al Jazeera and ABC News describes gusts jumping from about 50 km/h to as high as 96 km/h, pushing the flames toward soldiers and their administrative area. Defence officials said 84 members of the Princess Patricia's Canadian Light Infantry were in the training area. Four servi...
Canada's Economy: Canadian dollar drops to six-day low amid U.S. inflation fears
The Canadian dollar fell to its lowest level in six days on Wednesday, as investors were rattled by higher-than-expected U.S. inflation data that raised the prospect of tighter monetary policy south of the border.
The loonie traded at 79.32 U.S. cents, down 0.6% from Tuesday's close, after touching a low of 79.25 earlier in the session.
The U.S. consumer price index jumped 0.9% in June from May, the largest monthly increase since June 2008, and rose 5.4% on a year-over-year basis, the highest annual rate since August 2008.
The data fueled fears that the U.S. Federal Reserve may have to start tapering its bond-buying program and raising interest rates sooner than expected, which could boost the U.S. dollar and weigh on riskier currencies like the loonie.
"The market is clearly concerned that the Fed is behind the curve and will have to act more aggressively than previously anticipated," said Colin Cieszynski, chief market strategist at SIA Wealth Management.
He added that the loonie was also pressured by a decline in oil prices, as the Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed to increase output from August, easing supply concerns.
Brent crude, the global benchmark, fell 2.3% to $74.76 a barrel, while West Texas Intermediate (WTI) dropped 2.8% to $73.13.
Cieszynski said the loonie could find some support from the Bank of Canada's policy decision on Wednesday, which is expected to maintain its current pace of bond purchases and keep its benchmark interest rate at 0.25%.
"The Bank of Canada has been more hawkish than the Fed, so that could provide some relief for the loonie," he said.
However, he noted that the bank may also express some caution about the outlook for the Canadian economy, given the recent surge in COVID-19 cases and the uncertainty over the reopening plans of some provinces.
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