What's harder to quantify is the actual impact on spending and travel. Today, Statistics Canada released its cross-border report for February and it shows a real impact, though not as large as touted in some reports.
The bad news is that auto and same-day travel is more indicative of real-time decisions, as air travel is often booked months in advance. It suggests we will see poor Canada-to-US travel in March and beyond.
Weather alone in Feb 2025 likely caused a 5–15% reduction in cross-border trips, or around one-third of the same-day auto trip decline. Along those lines, US auto trips to Canada were also down 6.5% y/y in February with same day down 7.0% m/m despite a very strong USD/CAD in the month.
This article was written by Adam Button at www.forexlive.com. Read More Details
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