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Your daily horoscope: December 30, 2024

  HOROSCOPE IF TODAY IS YOUR BIRTHDAY You don’t need to make any big resolutions on your birthday. With a new moon to inspire you the right opportunities will arrive at just the right time and you will know without a shadow of a doubt what must be done – and you will do it magnificently! ARIES (March 21 - April 20): If you make yourself useful to someone in a position of authority now they will find ways to repay you early in the new year. That may sound a bit mercenary but in this dog eat dog world who you know is as important as what you know. TAURUS (April 21 - May 21): If you want to do something out of the ordinary today, something you know is likely to shock friends and family members, then go for it 100 per cent. It’s a good way to end the old year and an even better way to start the new one. GEMINI (May 22 - June 21): It’s time to look ahead and start thinking about your long-term aims and ambitions. That applies as much to personal matters as it does to your career. Y...
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Canadian Dollar Faces Continued Weakness Amid Economic Pressures

 


Analysts predict that the Canadian dollar, or "loonie," will continue to weaken due to a combination of factors. The currency has been under significant pressure recently, falling to its lowest level in five years. Several key factors are contributing to this decline:

1. U.S. Dollar Strength: The loonie has been losing ground against the U.S. dollar, which has been gaining strength due to expectations of economic policies under the re-elected former president Donald Trump. Trump's promises of deregulation, tax cuts, and tariffs have bolstered the U.S. dollar.

2. Interest Rate Divergence: The Bank of Canada has been cutting interest rates faster than the U.S. Federal Reserve in an effort to support the Canadian economy. This divergence in monetary policy has put additional downward pressure on the loonie.

3. Political Turbulence: Political instability in Ottawa has also contributed to the loonie's weakness. Uncertainty surrounding trade policies and potential tariffs on Canadian exports to the U.S. has created a challenging environment for the currency.

4. Global Commodity Prices: The loonie is closely tied to global commodity prices, particularly oil. Fluctuations in these prices can have a significant impact on the currency's value.

Economists expect the loonie to remain weak for the foreseeable future, with potential for further declines if trade tensions escalate. However, there is also a possibility of a rebound if global commodity prices rise or if trade negotiations improve.

The continued weakness of the loonie has mixed implications for the Canadian economy. While it benefits exporters by making their products more competitive, it increases the cost of imports and makes travel to the U.S. more expensive for Canadians.

Overall, the loonie's future will depend on a complex interplay of domestic and international factors, making it a key area to watch in the coming months.



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