Hedge funds hold the most negative position on the Canadian dollar since August 2024, according to CFTC data.

Donald Trump announces a large tariff on Canada due to disputes over smoke.

Reuters highlights major business stories including US tariffs on Canada and oil reaching $100.

Canada's June PPI fell 1.4% month-over-month, missing expectations of -0.4%, while year-over-year PPI slowed to 12.4% from 13.6%.

Canada's June manufacturing sales are estimated to have declined 0.1% month-over-month according to Statistics Canada's flash estimate.

Canadian Producer Price Index for June was released.

Canadian industrial product prices fell 1.4% month-on-month in June versus expectations of -0.4%, while raw materials prices declined 6.9% versus an expected -1.3%.

Canadian RMPI declined 6.9% month-over-month, significantly below the 1.3% forecast and prior 0.7% gain.

Canadian producer price inflation fell to 12.4% year-over-year from 13.6% in the previous period.

Canadian PM Carney stated Canada has not signed a partial USMCA deal, with negotiations expected to continue through the end of 2026.

Canadian PM Carney stated that all options remain available if Canada and the US fail to reach a tariff agreement, while noting recent trade discussions showed serious engagement.

Canadian PM Carney stated that this week's talks with the U.S. demonstrated high engagement and highlighted the serious nature of the bilateral trade relationship.

Canadian dollar strengthens as crude oil prices rise due to supply concerns.

USD/CAD technical analysis video discussing recovery and resistance levels.

Canadian PM Mark Carney states Canada will not hesitate to defend its interests in a trade war with the US, as 50% tariffs on Canadian products are scheduled to take effect August 19 unless a new trade agreement is reached.

Canadian dollar weakens as oil prices fall and the upcoming Federal Reserve decision creates uncertainty.

Central banks' interest rate expectations shifted this week, with RBNZ pricing 57 bps of hikes by year-end (71% probability of rate hike at next meeting), Fed 42 bps (64% probability of no change), ECB 41 bps (70% probability of rate hike), BoE 37 bps (92% probability of no change), RBA 28 bps (61% probability of no change), BoJ 25 bps (97% probability of no change), BoC 20 bps (93% probability of no change), and SNB 15 bps (84% probability of no change).

Canada's Prime Minister Carney stated that all options are under consideration if the US does not reach a deal on its latest tariff threats.

WTI crude oil surged 7% intraday, breaking above $93/barrel; Brent crude rose over 5% to $95.31/barrel.