Posts: 1098
Posted: Thu Oct 15, 2009 7:46 am
A couple of months ago Mark Carney put two conditions on a decent Canadian recovery - an 87� Canadian dollar and a good recovery in the US. Neither of these things has happened. The loonie is almost at par with the greenback causing even more havoc in the manufacturing sector. And the US recovery is there but very weak - still credit problems, people are saving, not buying and manufacturing recovery is minuscule.
Already there are signs of cross-border shopping ramping up due to the loonie's appreciation - not a good sign just before Christmas.
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