Canadian Dollar Holds Firm Despite Trump's Currency Criticism, BMO Says

07:47 AM EDT, 09/08/2026 (MT Newswires) -- The Canadian dollar is steady around CA$1.381 per US dollar, or $0.724, early Tuesday despite President Donald Trump's latest criticism of the loonie and Canada-US trade ties, according to BMO Capital Markets in a note. On Sunday, President Trump posted on Truth Social that "Canada's (currency) Dollar imbalance with the US is unacceptable. It has been that way for years - but no longer!" Statistics Canada estimates the loonie's average purchasing-power-parity value at about $0.76 from 1990 to 2019, a level it last reached in 2023, said BMO. However, exchange rates are only part of the picture, with taxes, productivity and wages also shaping trade competitiveness and making a clear advantage difficult to establish, added the bank. Without oil exports, Canada would run a "sizeable" goods trade deficit with the US, according to BMO.