The Daily Chase: TD, CIBC deliver clean sweep of beats; loonie trades above 80 cents VIDEO SIGN OUT
Canadaâs Big Six banks have gone six for six, as CIBC and TD delivered profit beats this morning. Both banks benefitted from the same big themes weâve seen play out this week as provisions for future loan losses fell and capital markets profit surged. An interesting wrinkle at TD was double-digit profit erosion in its U.S. banking operations. Paul Bagnell is digging into all the details for us.
LOONIE AT HIGHEST SINCE FEBRUARY 2018
For the first time in more than three years, the Canadian dollar has traded above 80 cents U.S. after a stunning climb of more than 10 cents since the mid-March of last year. Today weâll address the drivers and how much unease this might cause at the Bank of Canada, where for years governors have been warning about a lofty dollarâs impact on our exportersâ competitiveness.
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