Investing and Global Finance News

Monthly Archives: August 2015

Loonie Hits Eleven-Year Low

CANADA, GEORGE VI 1949 ---SILVER DOLLAR. Photo by:  Jerry "Woody"
Jerry “Woody

The Canadian dollar has not been this low, compared to the US dollar, since August 2004, falling to 75.27 US cents by the end of the trading day. The last day the loonie closed below 76 cents was just three weeks ago, on August 4, but today’s drop is lower still.

According personal finance expert Rubina Ahmed-Haq, the prognosis for the Canadian dollar is not rosy.

“Their U.S. dollar continues to get stronger and stronger with better economic news, which indicates they might raise rates in September and that could mean a lower dollar … going forward,” she said.

Some observers are speculating that the Bank of Canada will once again lower interest rates. An announcement on the future rates will be made on September 9th. If the US central bank increases interest rates, this could add up to an even more devalued loonie.

As Loonie Falls, Canadian Tourism Rises

The shrinking exchange rate of the Canadian loonie compared to the US dollar is helping to push Americans to take vacations in the borders of their vast northern neighbor, where their dollars can buy more. The Canadian dollar fell to under 85 cents to the US dollar in January, and in July reached a low… Continue Reading

Small Business Confidence on the Rise

The National Federation of Small Businesses announced on Tuesday that its survey of 1,495 small businesses showed increased optimism during July. This measure represents an about face from its 15-month low reached in June. This data point joins other indicators, such as car sales, employment statistics and service provider information to show a slow but… Continue Reading

FAA Issuing Drone Permits for Several Industry Uses

A study conducted by the Association for Unmanned Vehicle Systems International, a trade group for the burgeoning drone industry, investigated what businesses are increasingly using drones to improve efficiency and the bottom line. Of the 500 first permits granted to drone operators by the Federal Aviation Administration, 153 were granted to drone operators who use… Continue Reading