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Tag Archives: loonie

Loonie on track for second-biggest decline ever as pressures pile up


The Canadian dollar is on track to experience its second-biggest decline on record against the U.S. dollar, and analysts forecast the currency could go lower before it bounces back next year. The loonie is now down nearly 17 per cent against the greenback for 2015, the biggest drop since 2008, …

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Brace for another year of slow growth and loonie below 70 cents, Canada’s top forecasters warn


TORONTO — Canada is headed for a rocky year as low oil prices continue to drag on economic performance, the chief economists of some of Canada’s biggest banks said Tuesday. Bank of Montreal chief economist Douglas Porter told a morning gathering of leading economists that it’s going to be a …

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Weak loonie and U.S. ‘revival’ bump up Canadian exports, trim trade deficit


OTTAWA — Canada’s exports grew for the first time in four months in November, cutting the trade deficit in a sign the country’s weak currency is helping manufacturers even as the price of oil slides. Statistics Canada said on Wednesday the deficit narrowed to $1.99 billion from C2.49 billion in …

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Slumping loonie holds silver lining for Canadian retailers as cross-border shopping expected to ‘all but die’


The Canadian dollar’s plunge to a 12-year low is seen boosting sales for the country’s retailers in 2016 as fewer shoppers cross the border south, but profit growth will vary depending on their ability to control import costs and push through price increases. Canadian dollar touches fresh 12-year low, raising …

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As oil and loonie spiral, is it lights out for Trudeau’s ‘sunny’ economic ways?


Canada’s rookie finance minister, Bill Morneau, woke up Monday to a power failure in his Halifax hotel, where he was kicking off cross-country consultations for his first budget. A generator allowed for a single industrial light in his bathroom, but it died too. With Morneau in the shower. From there …

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The low loonie is attracting Americans to Canada’s used cars — and that may mean higher prices for you


Enticed by the low loonie, Americans are snapping up Canada’s used vehicles in near-record numbers, leading to higher prices at home and possibly even contributing to soaring new-vehicle sales. $10 cauliflower just the beginning: Get ready for more price hikes The Canadian dollar’s plunge to a nearly 13-year low this …

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Brace yourselves, the loonie is expected to resume its losing streak in the months ahead: poll


The battered Canadian dollar is expected to weaken even more, tied to the ill fortunes of depressed oil prices and the prospect of another interest rate cut, a Reuters poll showed. Here are Canada’s winners and losers as the loonie nosedives After plunging to its weakest in 13 years in …

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Low loonie luring foreign buyers, but an M&A boom in Canada may prove elusive


Canadian companies are eager to make deals and international businesses are looking to buy in a low-loonie environment, but don’t expect that to result in a wave of acquisitions this year. A decline of more than 30 per cent in the exchange rate of the Canadian dollar against the greenback has …

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Cross-border flights, reversed: With low loonie, more Americans flying out of Canadian airports


Many hands have been wrung in recent years about the millions of Canadians who choose to save money by flying out of U.S. border airports. Senate committees have been struck to examine the issue, while stakeholders point fingers at each other over who’s to blame. It turns out the solution was breathtakingly simple: …

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CPP Fund gain on loonie’s drop delivers 4.5% return on investments in quarter ended Dec. 31


TORONTO — The CPP Investment Board says the funds it manages for the Canada Pension Plan delivered a 4.5 per cent return, after costs, in the final three months of 2015. As of Dec. 31, which marks the end of CPPIB’s 2015-16 fiscal third quarter, the CPP Fund had $282.6 …

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