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Canadian Dollar Predictions for 2008
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Well, one goes up, the other goes down. With oil showing no reason to decline there is not reason to suspect the Canadian dollar will depreciate anytime soon, at least not against the greenback. THe US dollar is showing no reason of slowing it's downward trend. Poor housing markets and threats of recession will keep investors wary all throughout 2008. One can only expect economic upturn after the November presidential election.
Some have even suggested the downward trend will continue in excess of two more years.
For Canada the commodity market will continue to be strong. The only issue that is yet to rear its ugly head is the trade sector. The export market has been hit hard by the rise in the loonie and may cause adverse economic effects that will outweigh the benefits from other market like the commodity market. Downward pressure is expected as world markets cool and the Canadian economic responds accordingly. Things are good in Canada, but they can't outweigh what's going on around them (namely in the US).
(This post was edited by econmod on Jan 1, 2008, 11:43 PM)
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econmod
Broker
/ Moderator
Jan 1, 2008, 11:39 PM
Post #1 of 1
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