The last year hasn’t been great for the Canadian economy. It’s seen our dollar slide around 25% against the USD. It seems that our previous government was putting all its eggs in one basket by focusing on natural resources; with the decline in oil that hasn’t been a great policy. Now we have a newly elected Liberal government. It’s a bit early to know the changes they’ll bring but I feel that the Liberals will be the kick-start the country needs. So, what’s your take on it? Is Canada on the rebound or do we have further to fall?
CAD is at a great spot right now, our export and tourism sectors needs a low Dollar. Besides when it was at par with the USD was more of a fact of a weak USD and high oil prices. I have high hopes for the economy, things do seem to be doing very well. The stats say we are in a recession or damn well near it, but I think the pain is mostly over in Alberta.
A lower currency is good. Especially at this time when the energy prices are low, it makes things better for companies that export abroad. And Canada sure needs that to somehow compensate the weak performance of the energy sector. The oil price is and will remain a problem. Same for the high real estate prices... but other than that I think it's going ok. Oil will probably rebound at some point and then things should be smooth up in Canada.
