Canada's petrodollar may go as low as 70 cents in 2017

[mentalfloss]

Canadian dollar may go as low as 70 cents US in 2017, experts say

Canadians travelling to the United States or buying goods south of the border in 2017 could expect to pay more as the Canadian dollar is expected to retreat, with some economists saying the loonie could swing as low as 70 cents US.

According to several recently released forecasts, the Canadian dollar is expected to fall against the backdrop of several factors: a U.S. economy gaining speed, interest rate hikes by the U.S. Federal Reserve, and oil prices that are projected to remain soft.

The loonie stood at 74.10 cents US at the close of trading on Wednesday after slipping 0.23 of a cent.

Scotiabank said it sees the loonie dipping to 71 cents in the second quarter of next year before returning to its current level of 74 cents by the end of the year.

CIBC is projecting the dollar to slip to about 72 cents in the first quarter of 2017 before ending the year with a recovery of about one cent, while JPMorgan Chase predicts a 70-cent loonie by the middle of next year, then to remain between 70 and 71 cents in the latter half of the year.

Canadian dollar may go as low as 70 cents US in 2017, experts say - Business - CBC News

 

[Durry]

The CDN $ is going down to $0.73 next year easily.
Oil will keep falling and the Libs are screwing up the economy, Big Time!!

Oops, I meant to say $0.63.

 

[mentalfloss]

Yes it's the Liberals fault that our economy is completely dependent on oil.

 

[JamesBondo]

A low canadian dollar is beneficial to the coal export industry. The buyers pay in american dollars, and then are converted to Canadian dollars to pay the workers salaries.

 

[petros]

Yes it's the Liberals fault that our economy is completely dependent on oil.

Are tulips selling like pannekoeks?

 

[mentalfloss]

I love pancakes!

 

[Durry]

Yes it's the Liberals fault that our economy is completely dependent on oil.

The Liberals tax policies have driven away manufacturing, so yes, it's all the fault of the Liberals!!
Scum bag lefties screw it up every time.

 

[mentalfloss]

The Liberals tax policies have driven away manufacturing, so yes, it's all the fault of the Liberals!!
Scum bag lefties screw it up every time.

Nope.

That was all NAFTA.

 

[petros]

It was Chretien who signed NAFTA.

 

[mentalfloss]

He's not actually a liberal, but it was Mulroney anyway.

 

[petros]

Uh huh. Not a Liberal? You really need to lay off the dope. It's not working for ya

 

[IdRatherBeSkiing]

The ones publishing reports like this are typically the ones who are selling the Canadian $ short. A few negative reports helps them reap in their profits.

 

[petros]

Yuuuup.

 

[mentalfloss]

You guys just can't handle the truth it seems.

 

[Scooby]

 

[Curious Cdn]

A low Canadian dollar benefits processing and manufacturing. It also gives us an advantage in NAFTA (I wonder if Drumpf has figured that out, yet)

Bring it on! $0.70 is good news unless you live in Bugtussle and cross the border every weekend to buy your groceries in Pixley.

 

[bobnoorduyn]

You guys just can't handle the truth it seems.

No, just can't handle what is propagated as truth. Would you know the truth if it bit you in the proboscis? Kinda doubt it.