To say that the currency market is volatile would be quite the understatement. We have seen the USD decrease in value by 15-20% in a very short time period. The economy has been a well discussed topic in the media, in the local coffee shop and in every boardroom of corporate America. The weakness in the US dollar (USD) is well documented the weakness has been rightly predicted by many financial and economic analysts. The impact of the surging Canadian dollar (CDN) on exporting industries is grave and quite detrimental. The hog and cattle indutries are up against enough issues to have to deal with a currency that seems to move 20% at will. Known as a petro currency, the Canadian dollar has no doubt moved higher on oil closing in on $80 per barrel, but is there more to the story. Is this more to do with weakness in the USD or is the Canadian economy forecasted to do much better in relation to the United States?
I talked to Matthew Strauss, Senior Currency Strategist, RBC Capital Markets in Toronto to answer some of these questions and more. We also talked about the six to twelve month outlook for the USD and CDN currencies.
Matthew Strauss – RBC Capital Markets – Currency Outlook
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