Strengthening Canadian dollar threatens to squeeze company profits [Toronto Globe and Mail (Ontario, Canada)]
Canadian National Railway Company (CNI)
Last canadian national railway company earnings: 4/27 04:01 pm
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Source: Toronto Globe and Mail
Strengthening Canadian dollar threatens to squeeze company profits Canada and the United States are on diverging economic paths, fuelling a rise in the value of the loonie that some expect will gather steam in the coming months. Boosted by a recent spike in oil prices, better-than-expected domestic wholesale trade numbers and increasing speculation that the U.S. Federal Reserve will cut interest rates next month, the Canadian dollar strengthened to close at 75.91 cents against its U.S. counterpart Tuesday, nearing the three-month intraday high it touched last week. “We’ve seen Canadian data hold up really well. … We’ve had some stellar employment data in the last month or two and inflation numbers have been creeping higher,” said Bank of Nova Scotia chief foreign-exchange strategist Shaun Osborne. “The U.S. dollar is likely to weaken over the next 12 to 18 months heading into 22.” Story continues below advertisement The loonie is up 3.8 per cent against the greenback this year, a tren
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- 4/23/24 - Beat
CNI
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- 4/8/24 - Form 6-K
- 4/5/24 - Form EFFECT
- CNI's page on the SEC website