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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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Senate Republicans Advance Trump's Tax Cut Agenda Amidst Controversy


In a significant political move, U.S. Senate Republicans have passed a budget blueprint aimed at extending President Donald Trump's 2017 tax cuts. The measure, approved after an intense late-night session, allows Republicans to bypass the Senate's filibuster and proceed with tax, border security, and military priorities without Democratic support.

The blueprint proposes making the 2017 tax cuts permanent, which reduced the corporate tax rate from 35% to 21%. However, the individual tax cuts, set to expire this year, are also included in the plan. Critics argue that the measure could add $5.7 trillion to the federal debt over the next decade, though Republicans estimate the cost at $1.5 trillion.

Democrats have voiced strong opposition, warning that the plan could jeopardize Medicaid and other essential programs. Senate Democratic Leader Chuck Schumer criticized the move as favoring the wealthy at the expense of middle-class Americans.

The measure now heads to the Republican-led House of Representatives for further debate. Its passage marks a pivotal step in advancing Trump's economic agenda, though it faces significant scrutiny and potential hurdles in the coming weeks.

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