All about the Canadian dollar

Canadian dollar coins.

Canadian dollar coins. for The Globe and Mail

Check out the Globe's recent coverage of the rising loonie and what it means

Globe and Mail Update

The Canadian dollar has risen rapidly. Got questions, comments, or ideas for more coverage on the Canadian dollar? We'd love to hear from you. Please use our comments area, or send us an e-mail.

Here's a roundup of some of the Globe's recent coverage of the rising loonie:

Newest

  • The Canadian dollar's ascent against the greenback this year has been well publicized. But how does it stack up against other major currencies? Tavia Grant finds out: How the Canadian dollar stacks up
  • A Canadian dollar that persists around the 95-cent (U.S.) mark next year could slice as much as 3 per cent from the country's economic growth, Export Development Canada warned Tuesday: Canadian dollar could derail growth: EDC
  • Globe Investor has started a special education series of articles on understanding the Canadian dollar. Part one: What should the value of the Canadian dollar be?
  • Konrad Yakabuski wrote the weekend Globe Essay and answered questions in an online discussion about why he believes it's time for Canada and the United States to share the same currency: Should Canada and America share the same dollar?, Putting to rest a too vigorous bird
  • The Canadian dollar's race toward parity risks “more than fully” offsetting the benefits from a surprisingly strong recovery from recession, the Bank of Canada said Tuesday. Explaining their decision to leave the benchmark interest rate at a record low of 0.25 per cent, policy makers said the loonie's ascent to levels around 97 cents (U.S.) in recent weeks is hurting Canadian exporters' ability to participate in a global economic rebound that is stronger than they expected it would be in July. Strong dollar holding back recovery
  • The Canadian dollar tumbled more than a cent after the Bank of Canada warned the strong currency will slow economic growth. Dollar nosedives on bank comments
  • When commodity prices are up and economic fundamentals are improving, the Canadian economy tends to purr - and a rising loonie only helps, David Berman reports: The bright side of a stronger loonie
  • The loonie's strength has caught many strategists by surprise, and underscores the difficulties in pinpointing global currency directions, Tavia Grant writes: Market watchers wary of dollar's shine

Last week

October

  • The Canadian dollar powered to its highest level in more than a year Friday, hitting 95.93 cents (U.S.) in morning trading – and rekindling speculation on when it might reach parity with the U.S. dollar. Loonie jumps on jobs data
  • The Bank of Canada repeated its concern about the strength of the Canadian dollar on Thursday, warning that it could delay the return of inflation to the bank's 2 per cent target. Bank of Canada repeats dollar warning
  • International currency traders are treating Canada like Australia, strategists say, expecting the Bank of Canada to follow with its own interest rate hike, despite repeated comments from the Canadian central bank that rates will likely stay on hold until the middle of next year. Currency traders bet Canada will follow Australia
  • The loonie was little changed after the market's closed Wednesday after record gold prices sent the currency to a one-year high earlier in the day. Loonie stays near one-year high
  • Australia's surprise interest rate hike, the first among the Group of 20 countries, set off a wave of optimism that rippled through currency and stock markets Tuesday.Stocks, loonie surge on Australia rate hike
  • The loonie jumped more than a penny Wednesday as investors sold the U.S. currency and as oil prices gained ground: Loonie jumps on oil prices
  • Market watcher and Canadian dollar bull says currency withstood 'a very severe shot' from Carney and sees the loonie poised for further gains: Gartman impressed by loonie's reslience

September

  • The Canadian economy will likely perform better than the Bank of Canada had anticipated in the second half of this year – though a strong currency could prove a threat to expansion, the central bank said Wednesday. “Persistent strength in the Canadian dollar remains a risk to growth,” said Bank of Canada deputy governor David Longworth in a speech in Summerside, PEI. Strong dollar threatens growth: BoC
  • On Thursday the Canadian dollar reached its highest level in 11 months against a generally lower U.S. currency Thursday, spurred by firm equity markets: Dollar at highest mark in 11 months
  • Long-time Canadian dollar bull, Dennis Gartman, Virginia-based author of The Gartman Letter, finds plenty of reason for optimism about the loonie, including the United States-China trade skirmish: Why Dennis Gartman likes the Canadian dollar
  • The Canadian dollar fell against its U.S. counterpart Tuesday even as other currencies gained, signalling that traders are taking seriously the Bank of Canada's stand against a stronger loonie. Carney's stance stalls loonie's ascent
  • On Tuesday, the loonie three-quarters of a cent, prompting Scotiabank currency strategist Camilla Sutton to warn that political uncertainty could drive the Canadian dollar lower following Opposition Leader Michael Ignatieff's comment that the federal Liberals will no longer prop up the minority Conservative government: Political uncertainty to weigh on loonie: economist

August

  • On Friday, the government annoucned plans to launch a U.S. dollar denominated global bond of up to $3-billion (U.S.) in the near future, which would be its first foreign currency global bond issue in more than a decade. Analysts did not expect the move to affect the loonie's value. Canada to issue U.S. global bond
  • The Globe and Mail printed an editorial in response to the Bank of Canada deputy's speech warning about the danger's of the loonie's rise and hinting that it may resort to quantitative easing. "While tending to lower the purchasing power of Canadians generally, such easing would also lower the Canadian dollar, without specifically targeting it. At a time of incipient recovery, when there is already a risk of revived inflation, quantitative easing is a doubtful choice. It would make more sense to take direct aim at the exchange rate, by selling Canadian-dollar-denominated securities and buying U.S.-dollar-denominated ones, thus changing the supply of, and demand for, the two currencies...."
    Go easy with the easing
  • On Wednesday, the loonie fell near the bottom of the list among the world's major currencies as it lost more than a cent and settled around 91 cents U.S. Allan Robinson reports: Loonie battered as commodity currencies slide
  • Bank of Canada Deputy Governor Timothy Lane said “persistent strength” in the loonie could derail the country’s recovery from recession and signalled the central bank is prepared to weaken the currency if necessary: Strong loonie could derail recovery, central bank says

July

  • Report on Business looked at all of these questions and others in an online discussion with Sheryl King, Head of Canada Economics and Chief Strategist at Merrill Lynch Canada: The high dollar and you

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Loonie pulls back

BNN talks to Camilla Sutton, director of foreign exchange, Scotia Capital.

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Loonie pulls back

BNN talks to Camilla Sutton, director of foreign exchange, Scotia Capital.

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