Loonie to hit 75 cents US in 2016 as oil crash hits Canada economy - Polidicks

[QUOTE]The Canadian dollar is expected to continue its swan dive through 2015, a new report from TD Economics said Monday. The bank’s economics department suggests the loonie will hit a low of 75 cents U.S. by the beginning of next year as the dollar depreciates because of low oil prices and their impact on the domestic economy. A strengthening U.S. economy meanwhile will further devalue the loonie against the U.S. dollar as the greenback rises. “The relatively larger growth performance in the United States combined protracted weakness in oil prices has led us to downgrade our outlook for the Canadian dollar,” TD chief economist Craig Alexander and Leslie Preston, also an economist at the bank, said. The loonie has spiralled lower along with oil’s swoon in recent months, trading Monday at just above 80 cents U.S. – or the weakest exchange rate in six years. The dramatic plunge in oil prices prompted the Bank of Canada to unexpectedly slash its key, trend-setting interest rate last week, a move that sent the dollar sharply lower. For consumers, a falling dollar is going to make life more expensive, experts say. New vehicles, clothing, fresh and processed fruit and vegetables, snack foods and red meat are just a few products that stand to feel upward pressure on prices amid the loonie’s fall. [/QUOTE] [url]http://globalnews.ca/news/1793319/canadian-dollar-expected-to-slip-to-fresh-low-of-75-cents-td-says/[/url]

Canadian money is so crazy their name has to reflect that.

So now people from the states will come to Canada to buy the cheap stuff? It's really common in BC to go to the states to do your shopping, especially if you live in Vancouver.

[QUOTE=pkhzor;47020248]So now people from the states will come to Canada to buy the cheap stuff? It's really common in BC to go to the states to do your shopping, especially if you live in Vancouver.[/QUOTE] Not worth it anymore.

Nooo, my wage :( (I buy a lot of American/international imports)

[QUOTE=pkhzor;47020248]So now people from the states will come to Canada to buy the cheap stuff? It's really common in BC to go to the states to do your shopping, especially if you live in Vancouver.[/QUOTE] I think we'd have to fall a good bit further for it to be worth coming to Canada to buy things, our stuff is so much more expensive that a 25% discount wouldn't really make it up. This is just a prediction anyhow, it's at 81 cents to the dollar right now

They're lowered the key rate and now there are rumours that they will drop it again. Increasing already sky high and unsustainable consumer debt while our economy is turning belly up in Western Canada.

So the (in the US) joke that it's just monopoly money will actually hold a bit of water?

I remember when it was 50 cents to the US dollar. Really makes online shopping a bitch.

Annnnnd that's what happens when your idiot PM puts all his eggs in one basket. It's like the 90s all over again...

Thanks Steve.

People called me crazy for not going to work on the rigs. Now they're all getting laid off or leaving tradeschool to a flooded market.

[QUOTE=Cakebatyr;47025737]Thanks Steve.[/QUOTE] Can we get rid of Harper if it turns out he's a muslim born in kenya? I want to see some birth certificates

[QUOTE=hypno-toad;47025838]Can we get rid of Harper if it turns out he's a muslim born in kenya? I want to see some birth certificates[/QUOTE] It says he's from Alberta. That's bad enough.

So when will Canada go to war over oil? Before I get rated dumb its a joke.

[QUOTE=pentium;47025901]It says he's from Alberta. That's bad enough.[/QUOTE] Except he's not, he immigrated there from Toronto.