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Canadian Dollar Falls as Middle East Tension Lifts Prices

The loonie dropped to 1.3680 per U.S. dollar today as Middle East trade restrictions pushed oil and producer prices higher. Investors now await retail data.

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The Canada dollar, or loonie, declined for a third consecutive session against the greenback on Thursday. This movement comes as market participants evaluate the impact of ongoing geopolitical tensions in the Middle East, specifically regarding trade restrictions in the Strait of Hormuz, which have driven up energy costs and domestic producer prices.

A Canadian one-dollar coin, known as a loonie, is displayed in Toronto. REUTERS/Mark Blinch/File Photo
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