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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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Israel’s Expanding Offensive in Central Rafah: A Closer Look

 

The Israeli military has officially confirmed that its forces are operating in central parts of Rafah as part of an expanding offensive in the southern Gaza city. This development comes after Israel launched a ground assault into Rafah on May 6, triggering an exodus of approximately 1 million Palestinians from the city and disrupting U.N. humanitarian operations in the area.

Key Points:

  1. Citywide Operations: The Israeli military statement suggests that its forces have been operating in most parts of Rafah, including both eastern districts and areas close to the border with Egypt. Israeli troops seized the Rafah crossing into Egypt on the first day of the offensive and have since claimed control over the Philadelphi Corridor, a road running along the Gaza-Egypt border on the Gazan side.
  2. Recent Developments: Earlier this week, Israeli troops also moved into Rafah’s western district of Tel al-Sultan, where heavy clashes with Hamas fighters have been reported by witnesses.
  3. Hamas Presence: The offensive aims to uproot Hamas fighters, following the group’s October 7 attack on southern Israel. In central Rafah, Israeli troops have uncovered Hamas rocket launchers, tunnels, and dismantled a weapons storage facility.
  4. Humanitarian Impact: The exodus of Palestinians from Rafah has led to a scattered population across southern and central Gaza. Most of them now live in squalid tent camps, with up to around 300,000 people believed to remain in the area. Some still reside in the central urban parts of Rafah, while others have sought refuge in rural areas near the coast, which have also been targeted by Israeli strikes and shelling.

Despite the ongoing offensive, U.S. President Joe Biden has emphasized that Israel has not crossed the “red lines” of a full-fledged invasion that he had urged them against. The situation remains tense, and humanitarian organizations continue to grapple with the challenges posed by the conflict.



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