10/09/2026
“The US dollar is up, so America is booming and Canada is broke.”
I keep seeing this one. Let’s unpack it.
A currency is a price tag, not a report card.
Right now a 10-year US government bond pays about 5.25%. Canada’s pays just under 4%.
If you’re a big investor, where do you park your money? Where it pays more. To buy US bonds you need US dollars. More demand, higher price.
That’s most of the story.
And why are US rates so high?
Partly a strong economy. Partly inflation worries from oil prices and a whole lot of government borrowing. Having to pay more to borrow isn’t exactly a trophy.
Now the honest part.
This morning’s jobs report was a tough one: Canada lost 68,000 jobs in September, the second monthly drop in a row, and unemployment ticked up to 6.5%.
The loonie slipped on the news.
Worth knowing: nearly all of the loss was in the public sector, and private businesses added about 24,000 jobs.
So a soft patch, yes. A collapse, no.
What a $1.43 US dollar means for you: Florida costs more, your US investments are worth more in Canadian dollars, and our exporters get a boost.
(Numbers as of the morning of Oct. 9, 2026.)
My name is Trevor, and I’d rather you understand the headline than fear it.
