so it looks like the BOC has cut rats and already the loonie has dropped below the USD
there really isn’t enough support for the Loonie’s continuing strength unless the US slashes again and again… too bad though… i was really hoping to get some stellar deals this xmas when I take my annual trip…
dark, read Bill Gross’ comments. My bet is they will cut another by 75 bps at least by next summer.
If the central bank needs to cut rates to keep the Loonie from heading through the ceiling, it seems to me that there is support for continuing strength (and that the BOC has decided to push against it). I don’t have data in front of me, but Canada is a resource (esp energy) exporting economy, and that strength, combined with the US dollar’s implosion, is what is driving the Looniness.
This is a headfake or “springboard” price, you rookies. Willy Ps - Going to California, Led Zepplin