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U.S. Midterms Tuesday: What the Vote Could Mean for the Loonie, Tariffs and Your Portfolio

  Canadian Money Brief | Feature U.S. Midterms Tuesday: What the Vote Could Mean for the Loonie, Tariffs and Your Portfolio By MoneySavings.ca | Published November 1, 2026 Americans vote Tuesday in elections that will fill all 435 House seats and 35 Senate seats. Canadians don't get a ballot, but we do get the consequences: a loonie that swung from an 18-month low to a six-week high in about two weeks, a tariff fight that has put 50% duties on roughly US$20 billion of our exports, and a lot of U.S. stock sitting inside our TFSAs and RRSPs. Here is how to think about all of it without trying to guess the winner. The short version: Nobody can reliably trade an election result. Forecasters lean toward Democrats winning the House, with the Senate closer. But history says the bigger market moves tend to come in the months after the vote, not on election night. For Canadians, the useful steps are practical: convert U.S. dollars in pieces, know how much U.S. stock you hold, and don't...
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US Economy Surges: 303,000 Jobs Added in March, Exceeding Expectations

 

In a remarkable turn of events, the US economy added a whopping 303,000 jobs last month, far surpassing economists’ expectations. This surge marks the 39th consecutive month of job gains in the country.

Key Highlights:

  • Unemployment Rate: The unemployment rate stands at 3.8%, reflecting a robust labor market.
  • Strong Hiring: Despite the Federal Reserve’s efforts to cool inflation by raising interest rates, hiring remains surprisingly strong. Over the past 16 months, the Fed has gradually increased its benchmark interest rates from near zero to over 5%. However, recent rate hikes have been paused, and Fed Chair Jerome Powell hinted at potential rate cuts in response to perceived job market weakness.
  • ADP Report: Earlier this week, ADP—the largest private payroll company in the US—reported that businesses added 184,000 new positions in March, the highest rise since July last year.

The next rate decision by the Federal Reserve is scheduled for May. Powell emphasized the delicate balance between controlling inflation and supporting economic activity and employment. As he stated, “Reducing rates too soon or too much could result in a reversal in the progress we’ve seen on inflation. But easing policy too late or too little could unduly weaken economic activity.”

The March employment report underscores the resilience of the US labor market, even amidst global uncertainties. As we move forward, all eyes remain on the delicate dance between monetary policy and economic growth.

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