another case of - " the more things change, the more the stay the same"
Canadian Dollar Hits 11-yr Low vs. USD on Wholesales Trade Data Miss & Macro Factors
The Canadian Dollar is definitively the weakest currency within the G10 as pressures mount on the Bank of Canada to potentially ease again. Oil is causing further pressure on the economy and another January rate hike may be in the cards should the price of Oil, which the Canadian economy relies heavily upon, fall below the 2008 intraday low of $32.40. That fear, along with the market’s favor of the US Dollar after Wednesday’s FOMC decision to raise rates and project four hikes in 2016 cased The Canadian dollar to fall to C$1.40 per US Dollar for the first time since 2004. Inflation in Canada has been rather ... (full story)