What a week, huh? So, USD/CAD’s been kinda on a rollercoaster, for what… five days? Yeah, it’s down, like, 1.30% this week. I mean, imagine waking up and realizing the psychological mark of 1.3800 is like a distant memory. Crazy, right? Anyway, the markets have been reacting to all sorts of Retail Sales numbers from our chilly neighbor, Canada. The Loonie—that’s the Canadian dollar, by the way, no idea why I always giggle at that—picked up speed against a slouching U.S. dollar.
The day started with everyone eyeing the Canadian Retail Sales data, fingers crossed. And guess what? A 0.8% rise in March—yay for expectations! They guessed it would be 0.7%. So, it’s like when you plan to eat only one cookie but accidentally (or not-so-accidentally) have two. Oops? Yet, the odd thing, Retail Sales without cars—minus 0.7%. Not sure what that says. Maybe folks just bought more cookies than cars? Who knows.
Andrew Grantham, a senior something over at CIBC Capital, chimed in. (I think I’ve heard of them somewhere. Or maybe not. My brain’s a fog.) He says consumers in Canada aren’t being too stingy, despite all the tariff hullabaloos happening. I can kind of see it, you know?
Meanwhile, the U.S. dollar’s just chilling low. The DXY—Dollar Index thingy—dropped to a two-week low, all wrapped in this giant quilt of fiscal worries and trade talk dramas. Oh, and Trump’s out there proposing 50% tariffs on European Union imports starting June, just like, randomly. Plus, he’s aiming at Apple with a 25% tariff until they move production back to the U.S.? Sounds like a showdown, or maybe just political theater.
Anyway, amidst all this, the Canadian Dollar’s having a bit of a day. It’s like the star athlete against those other currencies. Or maybe just caught some lucky break? Who even knows these days.
I actually had an awkward moment trying to figure out those currency exchange percentages, like staring at a math test I forgot to study for. But essentially, Canadian Dollar flexed its muscles a little against the USD and friends.
And, um, yeah, that’s basically the week’s rollercoaster in currency land. Whatever happens next, probably more of the same, or maybe the opposite. Meh, onto the next ride, I guess.
