That's swell news for Canadian exporters, whose goods become cheaper in the U.S. as the loonie erodes. �But if you're an importer, you probably don't have 7.3 per cent in your margins,� Ms. Sutton said.
Canada's main stock index was little changed on Wednesday as strength in the price of commodities such as oil and bullion helped drive gains in the energy and mining sectors, offsetting weakness in the financial sector.
(Reuters) - The Canadian dollar will not gain back any ground against its U.S. counterpart in the coming year as the resource-dependent economy feels the pinch of low crude oil and commodity prices, a Reuters poll found.
Tourism Victoria's Paul Nursey says the low Canadian dollar is obviously a draw for U.S. visitors, but he cautions many actually aren't even aware of how far their dollar will go until they arrive here.
The Canadian dollar was down 0.16 of a U.S. cent at 82.17 cents. The June crude oil contract closed down 59 cents at US$57.15 a barrel, while June gold gave back $19.30 to US$1,175 an ounce after a gain of $7.40 on Thursday.