OPPORTUNITY · Export Alberta · Currency
The Canadian dollar fell as much as 0.6% to C$1.3844 per U.S. dollar on August 24 — its worst single day against the greenback since mid-June — after trade talks collapsed and the U.S. tariffs took effect, Bloomberg reported via Yahoo Finance. MUFG’s Derek Halpenny warned that downside risks intensify the longer the trade war runs, with forecasts pointing to C$1.41 by the third quarter.
A weaker loonie is the one tailwind in this news cycle: every U.S.-dollar invoice converts to more Canadian revenue, partially offsetting tariff pain for exporters still selling south, and improving price competitiveness in markets that buy in U.S. dollars — the Gulf, much of Asia, and Latin America among them.
What it means: Revisit your U.S.-dollar pricing and hedging posture before quoting fall contracts — a 3–5 cent currency move is real margin, and it favours exporters who lock terms while the loonie is soft rather than after it recovers.
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