Batis Exchange
On Friday, the loonie traded near 70.56 U.S. cents, a sharp decline from its 2026 peak of 74.1 U.S. cents reached in late January. The currency is now trading at its weakest level in roughly a year.
The bank estimates that the average cost of mining one Bitcoin is currently around $78,000, while the cryptocurrency’s market price sits near $63,000. Analysts noted that Bitcoin has remained below this production-cost threshold for five straight months, creating challenging conditions for many mining operators.
Statistics Canada reported that retail sales increased by 0.5% in April, reaching $73 billion. The gain was largely driven by stronger spending at fuel retailers and motor vehicle dealerships.
The Canadian dollar weakened further this week as falling oil prices and changing interest rate expectations created a challenging environment for the currency.
