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Eid Prayers Bring a Moment of Unity in Gaza’s Saraya Yard

  As dawn broke over Gaza City, thousands of Palestinians gathered in the historic Saraya yard to mark the beginning of Eid al‑Fitr, a holiday that symbolizes renewal, gratitude, and communal strength. Despite the immense hardships faced in recent months, worshippers arrived early, filling the open square with rows of prayer mats and the soft murmur of supplication. Families stood shoulder to shoulder, children clutching balloons and wearing new clothes—small but meaningful traditions that persist even in the most difficult times. The atmosphere blended solemn reflection with a quiet resilience, as community leaders offered messages of hope and unity. For many, this year’s Eid carries a deeper emotional weight. The prayers in Saraya yard served not only as a religious observance but also as a collective expression of endurance, identity, and the longing for peace. In a place where daily life has been shaped by uncertainty, the gathering became a rare moment of togetherness and s...
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Loonie gains as oil prices climb and Fed rate hike seen unlikely

The Canadian dollar edged higher against its U.S. counterpart on Monday as oil prices rose and investors bet that the Federal Reserve would not raise interest rates at a meeting this week.

The loonie was trading 0.2% higher at 1.3565 to the greenback, or 73.74 U.S. cents, after moving in a range of 1.3548 to 1.3590. Last week, the currency touched its weakest in nearly five weeks at 1.3599.

Oil prices climbed on Monday, supported by expectations of tighter supply and signs of economic recovery. Canada is a major exporter of crude oil, so the loonie tends to benefit from higher oil prices.

Investors were also looking ahead to the Fed’s policy decision on Wednesday, which is widely expected to deliver a rate hike of 50 basis points, the first since 2018. However, some analysts said the Fed could signal a pause in its tightening cycle amid signs of slowing growth and inflation in the U.S.

“The market is pricing in a very dovish Fed, which is supportive for the Canadian dollar,” said Bipan Rai, North American head of FX strategy at CIBC Capital Markets. “The Fed is likely to acknowledge the downside risks to the outlook and may hint at a slower pace of rate hikes next year.”

Rai said he expected the loonie to strengthen to 1.33 per U.S. dollar by the end of the year, as the Bank of Canada (BoC) maintains its hawkish stance. The BoC has raised its benchmark rate four times this year to 4.25%, the highest in nearly 15 years, and has said it will study the most recent economic data to gauge whether to hike further.

The Canadian dollar was also supported by domestic data that showed the value of building permits rose by 2.5% in October, beating market expectations of a 0.5% decline.

Canadian government bond yields rose across the curve, tracking the move in U.S. Treasuries. The 10-year was up 3.4 basis points at 2.916%.

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