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CCC: The Canadian Dollar: Revenant or Titanic?

Wednesday, March 09, 2016

In another movie-themed edition of 5 Minutes for Business, Hendrik Brakel, our Senior Director, Economic, Financial and Tax Policy, looks at the state of the dollar – will it rise from the dead like the Revenant, or sink like the Titanic?

The dollar had a good week, up at 74 cents, thanks to some positive GDP news. That 0.8% annualized growth was a delightful surprise, particularly since so many economists had predicted stagnant growth.

One of the reasons for the boost in GDP is that Canadians are substituting domestic goods and services in lieu of importing, which indicates more economic activity in Canada, a side effect of the dollar’s fall from 90 cents to 70. But this is hardly the sign of a resurgent economy. So the big question is: will it last as long as Leo’s Oscar snub, or be as short as an Academy Award thank you speech?

Read 5 Minutes for Business to find out.

For more information, please contact Hendrik Brakel.

5 Minutes for Business

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