Canadian Dollar tumbles as Greenback resurgence picks up speed
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The Canadian Dollar (CAD) shed weight at an accelerating pace on Thursday, falling over one-half of one percent against the US Dollar (USD) amid a broad-market uptick in Greenback demand. FX markets are seeing an across-the-board pivot into picking up the US Dollar, leaving the already-struggling Loonie in the dust. The US government’s funding-based shutdown is stretching into its ninth straight day. Investors initially brushed off the closure of US federal services last week. Now, a clear lack of forward progress by US lawmakers to re-fund the government is weighing on broad-market sentiment, sparking a sharp uptick in risk-off safe-haven flows and buoying the Greenback. Daily digest market movers: Canadian Dollar stumbles over rising Greenback demand The Canadian Dollar fell over 0.5% against the US Dollar on Thursday, hitting a 26-week low. The Loonie has been steadily losing ground against the US Dollar since mid-June, falling 3.65% top-to-bottom. The US government remains split down party lines over key healthcare funding budget items, and the US Senate is mired in political gridlock, making a quick resolution to the lack of a federal budget an increasingly unlikely outcome. Key Canadian labor and wages data is due on Friday. Loonie traders will be looking for a recovery in Net Change in Employment figures, while the Unemployment Rate is expected to tick up to 7.2%. With the US government in shutdown mode, official data sources have dried up, forcing markets to rely on more volatile and inconsistent private data. Friday brings the latest University of Michigan Consumer Sentiment Index, as well as updated 1-year and 5-year Consumer Inflation Expectations. Canadian Dollar price forecast USD/CAD extended its recent rally, with the pair now trading near 1.4025 after breaking through the key 1.4000 level. The move marks a decisive shift in daily structure, as price has…
Filed under: News - @ October 9, 2025 8:28 pm