Canadian Dollar Weakened

If you haven’t heard the news, our Canadian dollar dropped below 70 cents last month. This is the first time since 2003. Many people have started to predict how the loonie will survive the upcoming years. Using the 2008 recession as the example of where we are headed, some have theorized that the loonie will drop below 59 cents or that we will enter another recession.

I trust this is not the case. Worrying about repeating the past and fear mongering are completely different. Right now our dollar is locked in step with the price of oil and that, is the wild card. Many say that a lower dollar means we will be able to increase export and manufacturing, but this takes time, it’s not an immediate change. It will be hard for some time moving forward but the turn around on the long stretch is there. Patience is key.

Graeme.








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