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The Loonie Just Hit an 8-Week High — Here's What a Stronger Dollar Means for You

  August 11, 2026 Three weeks ago, we told you the Canadian dollar had crashed to a 14-month low . This week, it's doing the opposite: the loonie just touched its strongest level since June, and it's not a small bounce. If you shop online, travel south, or hold US stocks in your RRSP or TFSA, this move actually moves your numbers. What actually happened The Canadian dollar strengthened to about 1.393–1.394 per US dollar — roughly 71.7 to 71.8 US cents — its best level in eight weeks, according to Reuters and TradingEconomics data. That's a meaningful move: the loonie has gained close to 2% against the greenback since hitting 1.4248 on July 25, and it's up about 1.6% over the past month alone. THE TURNAROUND, IN THREE NUMBERS July 25 (14-month low) 1.4248 USD/CAD Today (8-week high) ~1.394 USD/CAD Move since July 25 Loonie up ~2.2% Two things are driving it. First, Friday's July jobs report blew past every forecast — the Canadian economy added 75,100 jobs against ...
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Canada Adds Fewer Jobs Than Expected in October; Unemployment Rate Holds Steady

 

Canada’s job market showed signs of slowing down in October, as the country added fewer jobs than anticipated. According to Statistics Canada, the national unemployment rate remained unchanged at 6.5%.

The economy saw a modest increase of 15,000 jobs last month, falling short of economists’ expectations. This modest gain reflects ongoing challenges in the labor market, influenced by high interest rates and economic uncertainties.

Despite the job additions, the unemployment rate held steady, indicating that the labor market is still grappling with balancing job creation and economic pressures. The Bank of Canada has been closely monitoring these trends, especially as it aims to foster economic growth following recent interest rate cuts.

As the country navigates these economic conditions, the focus remains on creating sustainable employment opportunities and supporting workforce stability.


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