Tag: Loonie

5 Reasons Why Gas Prices Are Set To Go Up In Canada — And Fast | CBC News

mdbincbi

The price of filling up a tank of gas is a classic Canadian irritation. But a confluence of factors may soon make that process even more gobsmacking than usual. Here’s a look at five reasons gas prices are soaring. A big one is that gas prices always rise around this time of year. “Usually we see a gasoline demand spike in the second week of June,” GasBuddy.com’s senior petroleum analyst Dan McTeague says. While few people put any thought to it on a fill-up, the chemical composition of gasoline is different in summer…

Read More

Canadian Dollar Falls From 4-Month High After Trump Boosts U.S. Dollar – Business – CBC News

mdbincbi

The Canadian dollar retreated from a four-month high against the U.S. dollar on Thursday after comments from U.S. President Donald Trump boosted the greenback against most major currencies. During his first visit to the World Economic Forum in Davos, Switzerland, Trump stressed that he ultimately wanted to see a stronger U.S. dollar. The move comes on the back of comments made by Treasury Secretary Steven Mnuchin on Wednesday, when he said a weaker buck was good for American exporters.Those comments had sent the U.S. dollar to a three-year low against a basket of currencies. On Thursday, the…

Read More

‘Energizer Bunny’ Loonie To Peak Near 80 Cents US: Experts | CTV News

mdbincbi

Two leading Bay Street strategists expect the Canadian dollar’s steady climb over the last two months will start to top out at about 80 cents US, a level it flirted with on Monday amid signs of an increasingly robust economy. The loonie, which ended Monday with an average trading price of 79.92 cents US, up 0.23 of a cent, has packed on more than seven cents since early May — a surge largely fueled by the vote of confidence earlier this month from the Bank of Canada in the form…

Read More