--- title: June 26, 2026 - The fall of the loonie description: The Canadian dollar dropped to a 14‑month low, reflecting diverging trajectories between Canada and the United States image: https://mcmahon.ia.ca/hubfs/iagam/Blog%20Mc%20Mahon/images/og/OG_McMahon_1200x628_EN.jpg --- [![iA Groupe financier - Facebook](https://mcmahon.ia.ca/hubfs/Commun/logos/inverse/logo-i-a-horizontal-inverse-fr.png)](https://ia.ca/individuals) Toggle navigation [Macro playlist](https://mcmahon.ia.ca/en/september-11-2026-eye-for-an-eye) [About us](https://mcmahon.ia.ca/en/about-us) [Subscribe to the newsletter](https://mcmahon.ia.ca/en/newsletter-subscription) [fr](https://mcmahon.ia.ca/26-juin-2026-une-hausse-en-juillet) # Macro Playlist The economic ideas driving markets. Every week, Sébastien Mc Mahon and his team deliver their carefully selected economic analyses and market outlooks. ## June 26, 2026 - The fall of the loonie x Partager l'édition via Copy link LinkedIn X ![](https://mcmahon.ia.ca/hubfs/iagam/Blog%20Mc%20Mahon/icones/animated_images.svg) ## Opening Track The week in review This week, the Canadian dollar dropped to a 14‑month low, reflecting diverging trajectories between Canada and the United States [Download slides](https://mcmahon.ia.ca/hubfs/Hebdo_20260626_EN.pdf) ![](https://mcmahon.ia.ca/hubfs/iagam/Blog%20Mc%20Mahon/icones/vital_signs.svg) ## Top of the Charts Chart of the week | Make Canada Attractive Again After several years in which foreign investors were selling more Canadian equities than they were buying, the chart clearly shows a shift: in recent months, flows have turned positive again. In other words, foreign capital is returning to Canada.  Part of this improvement can be explained by external factors. The surge in gold prices, for instance, has boosted the valuation of several Canadian mining companies, mechanically attracting international capital. But stopping at that explanation would be too narrow.  The most interesting signal lies elsewhere: this return to positive flows could reflect a renewed level of confidence in the Canadian market—and, more broadly, in the economy. In a globally uncertain environment, this type of movement is far from trivial. It may represent an early vote of confidence in the shift in economic policy direction under the leadership of Mark Carney.  That said, it is still too early to declare victory. A few months do not make a durable trend, and flows remain relatively modest. However, if this movement persists, it could mark a real turning point: one where Canada once again becomes an attractive destination for global investors. ![26 juin 2026 EN](https://mcmahon.ia.ca/hs-fs/hubfs/iagam/Blog%20Mc%20Mahon/26%20juin%202026%20EN.jpg?width=1280&height=734&name=26%20juin%202026%20EN.jpg) ![](https://mcmahon.ia.ca/hubfs/iagam/Blog%20Mc%20Mahon/icones/brand_awareness.svg) ## New Releases Read our latest publications ### White Paper #2 on AI Learn to fly: The AI productivity J curve and why the data are still idling on the runway [Read here](https://files.ia.ca/-/media/files/gestion-mondiale-dactifs/content/2026/20260616/2026-06_j-curve_en.pdf) ![](https://mcmahon.ia.ca/hubfs/iagam/Blog%20Mc%20Mahon/icones/cards_star.svg) ## Featured on Air Quick access to our latest media appearances ### S&P 500 Earnings Will Soon Be Eclipsed. Blame Canada Bloomberg – June 25, 2026 [Link](https://www.bloomberg.com/news/articles/2026-06-25/blockbuster-s-p-500-earnings-will-soon-be-eclipsed-blame-canada?utm_source=website&utm_medium=share&utm_campaign=copy) ### Canadian dollar extends recent decline as BoC minutes offer little support Reuters – June 24, 2026 [Link](https://www.reuters.com/business/canadian-dollar-extends-recent-decline-boc-minutes-offer-little-support-2026-06-24/) ### Federal banking regulator OSFI lowers domestic stability buffer to 3% BNN Bloomberg - June 19, 2026 [Link](https://www.bnnbloomberg.ca/business/2026/06/19/federal-banking-regulator-osfi-lowers-domestic-stability-buffer-to-3/) ![](https://mcmahon.ia.ca/hubfs/iagam/Blog%20Mc%20Mahon/images/Sebastien_McMahon.png) ## Sébastien Mc Mahon Chief Economist, iA Financial Group ![](https://mcmahon.ia.ca/hubfs/iagam/Blog%20Mc%20Mahon/images/Etienne_Bergeron.png) ## Étienne Bergeron Economist, iA Financial Group [About the team](https://mcmahon.ia.ca/en/about-us) ## Archives 2026 September - [September 11, 2026 - Eye for an eye](https://mcmahon.ia.ca/en/september-11-2026-eye-for-an-eye) - [September 4, 2026 - Risk management](https://mcmahon.ia.ca/en/september-4-2026-) August - [August 28, 2026 - Breaking point](https://mcmahon.ia.ca/en/august-28-2026-breaking-point) - [August 21, 2026 - The U.S. Treasury Under Pressure](https://mcmahon.ia.ca/en/august-21-2026-the-u.s.-treasury-under-pressure) - [August 14, 2026 - Negotiation Blitz](https://mcmahon.ia.ca/en/august-14-2026-negotiation-blitz) - [August 7, 2026 - Course adjustment](https://mcmahon.ia.ca/en/august-7-2026-course-adjustment) July - [July 31, 2026 - Loss of credibility](https://mcmahon.ia.ca/en/july-31-2026-loss-of-credibility) - [July 24, 2026 - Oil and Tariff](https://mcmahon.ia.ca/en/oil-and-tariffs) - [July 17, 2026 - Inflation surprise](https://mcmahon.ia.ca/en/july-17-2026-inflation-surprise) - [July 10th, 2026 - War and Peace](https://mcmahon.ia.ca/en/july-10th-2026-war-and-peace) - [July 3rd, 2026 - Trump's world](https://mcmahon.ia.ca/en/july-3rd-2026-) June - [June 26, 2026 - The fall of the loonie](https://mcmahon.ia.ca/en/june-26-2026-a-hike-in-july) - [19 June 2026 - A new era](https://mcmahon.ia.ca/en/19-june-2026-a-new-era) - [June 12 2026 - Stay the course](https://mcmahon.ia.ca/en/june-12-2026-stay-the-course) - [June 5, 2026 - Recalibration at the BoC](https://mcmahon.ia.ca/en/june-5-2026-recalibration-at-the-boc) May - [May 29, 2026 - Earnings and recessions](https://mcmahon.ia.ca/en/may-29-2026-earnings-and-recessions) - [May 22, 2026 - Downbeat Canada](https://mcmahon.ia.ca/en/may-22-2026-downbeat-canada) - [May 15, 2026 - Inflation and AI](https://mcmahon.ia.ca/en/week-ending-may-15-2026) ![mail](https://mcmahon.ia.ca/hubfs/iagam/Blog%20Mc%20Mahon/icones/mail.svg) ## Stay informed Get the Macro Playlist delivered straight to your inbox every week and stay up to date on the trends shaping the markets. 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