The Canadian dollar hit its highest level in almost four years on Thursday, buoyed by high commodity prices.
The loonie was changing hands at 82.26 cents US when stock markets closed on Thursday, its highest close since September 2017.
Two broad trends are combining to push the loonie higher.
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Innovation, Science and Economic Development Canada (ISED) has developed the attached newsletter in response to a need for Canadian businesses to obtain direct information on COVID-19 updates, tools and resources.
The federal government has given notice that it will table back-to-work legislation ahead of a looming dockworkers’ strike at Montreal’s port that threatens to have widespread economic repercussions across the country.
A general strike at the Port of Montreal is set to begin on Monday after the union representing dockworkers issued the required 72-hour notice to the Maritime Employers Association.
Barring a last-minute reprieve, the 1,150 port workers affiliated with the Canadian Union of Public Employees will be in a legal strike position as of Monday at 7 a.m., which would paralyze the port.
North American trade is facing a “critical moment” in the ongoing aftermath of the COVID-19 pandemic, say Canadian business leaders as they embark on a concerted campaign to fortify ties with the United States.
