Invesco CurrencyShares Canadian Dollar Trust reported its financial results for the three and nine months ended September 30, 2024, revealing significant changes compared to the previous fiscal period. As of September 30, 2024, the Trust's total assets amounted to $61.6 million, a decrease from $78.0 million at the end of 2023. Total liabilities also saw a decline, dropping to $22,722 from $26,141. The value of redeemable capital shares at redemption was $61.6 million, down from $78.0 million at the end of the previous year.

Total income for the third quarter of 2024 was $362,000, a decrease from $554,000 in the same period of 2023. For the nine months ended September 30, 2024, total income was $1.2 million, down from $1.7 million in the prior year. Net comprehensive income for Q3 2024 was $300,066, compared to $471,784 in Q3 2023. For the nine-month period, net comprehensive income decreased to $1.0 million from $1.4 million in 2023. Basic and diluted earnings per share for Q3 2024 were $0.35, down from $0.43 in Q3 2023, while for the nine months, earnings per share increased slightly to $1.20 from $1.11.

The Trust's cash position also reflected changes, with net cash used in operating activities for the nine months ending September 30, 2024, at $1.1 million, down from $1.4 million in the previous year. Distributions paid to shareholders for the nine months were $1.1 million, compared to $1.4 million in 2023. The Trust's cash at the end of the reporting period was $61.5 million, a decrease from $75.9 million at the end of September 2023.

Market conditions have influenced the Trust's performance, particularly fluctuations in the Canadian Dollar (CAD) against the U.S. Dollar (USD). The CAD/USD exchange rate ended Q3 2024 higher due to a downturn in the USD, coinciding with the Federal Reserve's easing cycle. The Canadian economy faced challenges from subdued growth and declining energy prices, despite being a major crude oil exporter. The Bank of Canada has implemented three rate cuts in 2024, totaling 0.75%, in response to these economic conditions.

The Trust's assets are entirely in Canadian Dollars, exposing it to concentration risk from exchange rate fluctuations. The only expense incurred during the reporting period was the Sponsor’s fee, which is charged at an annual rate of 0.40%. The Trust's management evaluated its disclosure controls and procedures as effective, with no changes reported in internal control over financial reporting for the quarter.