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Trade Shock Weighs on Canadian Dollar Against US Dollar

Guavy AI Editorial Team Published August 24, 2026

Instruments

USD CAD

The Canadian dollar is facing downward pressure against the US dollar due to a trade shock, according to Scotiabank analysts.

This external shock has increased uncertainty for the Canadian economy and has made it vulnerable against its US counterpart.

The US dollar tends to strengthen during periods of global trade uncertainty, making it a safe-haven currency.

The USD/CAD pair is currently seeing this dynamic play out, with the loonie struggling to gain traction.

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