Canadian Dollar Hits Two-Year Low Amid U.S. Election Uncertainty

The loonie's decline is driven by economic stagnation and global market volatility ahead of the U.S. presidential election.

• The Canadian dollar weakened 0.1% to a two-year low against the U.S. dollar, trading at 1.3950.
• October saw the loonie's largest monthly decline in over two years, dropping 2.8% due to economic stagnation.
• Factory activity in Canada rose to a 20-month high, but the August GDP remained flat, missing growth forecasts.
• Analysts predict the Canadian dollar could strengthen if the economy rebounds and borrowing costs decrease.
• The outcome of the U.S. presidential election, particularly if tariffs are implemented, could impact Canada's economic outlook.

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