Economist David Rosenberg suggests today that the Canadian dollar may have found its bottom after its year-long slide. Some observers see the currency going lower still, and it's certain to have its ups and downs.
Traders are betting the Canadian dollar fell too far, too fast in its worst start to a year in more than four decades, as rising commodities prices and a forecast budget surplus damp speculation for interest-rate cuts.
The loonie, as the country's dollar coin is known, sank below 90 cents U.S., regaining just some ground to stand at about 89.9 cents by late in the day, after Statistics Canada's readings on consumer prices in January and retail sales in December.
Nouriel Roubini, the bearish economist known as Dr. Doom, is now moderately enthusiastic about the Canadian economy, although he thinks our dollar should be 10 per cent below where it is now. Mr. Roubini, speaking to a Bay St. crowd at a meeting of the ...
The decline of the Canadian dollar is going to convince a lot of would-be cross-border shoppers to stay home, but travellers who go south to chase the sun will probably keep doing so, a report from TD Bank out Monday suggests.