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5 Things to Know Today: Midterms Day, Oil Plunge, Trade Deal, Budget (Nov 3)

  Canadian Money Brief • Tuesday, November 3, 2026 It’s Election Day in the United States, oil just had its biggest one-day drop since late July, and Ottawa tables its budget on Thursday. Here are five things to know today, and what each one means for your wallet. 1. U.S. midterms: Canada is watching Americans vote in the midterm elections today. Markets are expecting Democrats to win the House of Representatives, while control of the Senate is still uncertain. Trade policy has been a campaign issue, especially in border states such as Michigan and Maine, where Republican candidates have faced pressure over tariffs that have hurt local businesses. What it means for you: The result could move the loonie, the TSX and the tariff talks over the coming days, but one election night is rarely a reason to rebuild your TFSA or RRSP. If you need to convert Canadian dollars to U.S. dollars soon, expect choppy exchange rates. 2. Oil plunges on Iran diplomacy, then bounces Oil fell sharply o...
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Special Counsel Pauses Federal Prosecution of Trump Over 2020 Election Interference

 

In a significant development, Special Counsel Jack Smith has requested a pause in the federal prosecution of President-elect Donald Trump for his alleged attempts to overturn the 2020 election results. This move comes in light of Trump's recent victory in the 2024 presidential election.

Smith's request, filed on Friday, asks the court to vacate all remaining deadlines in the pretrial schedule to allow the government time to assess the unprecedented circumstances and determine the appropriate course of action. The Justice Department has a longstanding policy against prosecuting sitting presidents, which has influenced this decision.

U.S. District Judge Tanya Chutkan granted the request, setting a new deadline of December 2, 2024, for the government to file a status report outlining its proposed course for the case. This pause reflects the complexities and legal considerations surrounding the prosecution of a sitting president.

Trump, who has denied all wrongdoing, was initially indicted in August 2023 for his alleged role in a criminal scheme to overturn the 2020 election results. The case has faced numerous delays, and the recent election victory has added another layer of complexity to the proceedings.

As the legal and political implications of this decision unfold, the nation watches closely to see how the Justice Department will navigate this unprecedented situation.

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