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The Loonie Just Hit a 14-Month Low — Here's What It's Costing You

   Saturday, July 25, 2026 The Canadian dollar has slid to its weakest level since April 2025, and speculators are betting it has further to fall. Here's why it's happening and what it actually means for your wallet. If you've bought anything in U.S. dollars lately — a flight, an Amazon.com order, a hotel for a Florida trip — you may have noticed the exchange rate isn't doing you any favours. The Canadian dollar touched 1.4248 per U.S. dollar (about 70.2 U.S. cents ) last week, its weakest level in 14 months, before steadying closer to 1.41 . It's not just a bad week. Currency speculators have piled into bets against the loonie so aggressively that the Canadian dollar has overtaken the Japanese yen as the most heavily shorted major currency in the world, according to data from the U.S. Commodity Futures Trading Commission. Net short positions against the CAD hit roughly US$12.5 billion — the largest bearish bet on the loonie since December 2024. Why the loonie is ...
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Europe and Ukraine Push Back on Trump-Putin Peace Framework with Counterproposals

 

President of Ukraine Volodymyr Zelenskyy attends the parliament session in Kyiv, Ukraine Thursday, July 17, 2025


As U.S. President Donald Trump prepares for a high-stakes summit with Russian President Vladimir Putin in Alaska on August 15, European and Ukrainian officials have presented a united front, offering counterproposals to a Russian ceasefire plan that would require Ukraine to cede territory.

The original Russian proposal, reportedly discussed with U.S. envoy Steve Witkoff, suggested Ukraine withdraw from Donetsk and Luhansk in exchange for a full ceasefire. Trump hinted that the peace deal might involve “some swapping of territories,” a notion that sparked immediate backlash from Kyiv and its European allies.

Ukrainian President Volodymyr Zelenskyy firmly rejected any territorial concessions, stating, “Ukrainians will not give their land to the occupier.” He emphasized that any peace process must include Ukraine at the negotiating table, warning that decisions made without Kyiv would be “dead decisions”.

European leaders echoed Zelenskyy’s stance. French President Emmanuel Macron declared that “Ukraine’s future cannot be decided without the Ukrainians,” while Spanish Prime Minister Pedro Sánchez called for a “just and lasting peace” that respects Ukraine’s sovereignty.

The counterproposal, presented to U.S. Vice President JD Vance and Secretary of State Marco Rubio during a meeting in the UK, demands:

  • A ceasefire before any territorial discussions
  • Reciprocal territory exchanges, not unilateral concessions
  • Firm security guarantees for Ukraine and Europe

The Trump-Putin summit is seen as a potential turning point in the three-and-a-half-year war, but the wide gap between Russian demands and Ukrainian-European conditions suggests that a breakthrough remains uncertain. As Zelenskyy put it, “The path to peace for Ukraine should be determined together—and only together—with Ukraine”.


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