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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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Canada's Unemployment Rate Hits 6.8% Amidst Job Market Challenges


Despite a significant increase in hiring, Canada's unemployment rate rose to 6.8% in November, marking the highest level since January 2017, excluding the pandemic period. The economy added 51,000 jobs last month, with most of the gains in full-time employment. However, the rise in unemployment was driven by more people entering the job market, reflecting ongoing challenges in the labor market.

The Bank of Canada is closely monitoring these developments as it prepares for its upcoming interest rate decision. High interest rates have cooled the labor market over the past year, leading to longer periods of unemployment for many Canadians. The job report also highlighted that 46.3% of unemployed Canadians in November had not worked in the last year or had never worked, up from 39.5% a year ago.

As the country navigates these economic headwinds, the focus remains on balancing job growth with inflation control and interest rate adjustments.




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