If you look at the fundamental factors driving the Canadian dollar, we think the outlook is all down
[np_storybar title=”What’s in store for the loonie with Poloz steering central bank ship?” link=”http://business.financialpost.com/2013/05/03/canadian-dollar-stephen-poloz/”]Will a ‘trade guy’ at the helm usher in a weaker dollar and lower borrowing costs. The pundits weigh in
The loonie is set to fly south — soon, say TD economists, who are leading the bears with their forecast that Canada’s currency will drop as low as 90 US cents over the next year.
In “The case of a weaker loonie,” the economists say several recent trends have led them to lower their forecast for the Canadian dollar: A decline in Canada’s economy, the softening of commodity prices and the strength of the U.S. dollar.
“Canada has lost much of its economic growth advantage,” says economists Francis Fong and Leslie Preston, who expect Canada to…
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