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Economist sees Canadian dollar sinking to 86 in 2013

Globe and Mail - Jun 26, 2012

A new forecast from Capital Economics today projects the Canadian dollar will fall to 92 cents (U.S.) by the end of this year and to 86 cents by the end of next.

"The recent depreciation of the Canadian dollar is likely to continue this year and next," said David Madani, the group's Canada economist in Toronto.

"Our reasons for thinking so are the prospects of further declines in commodity prices and lower expectations for interest rate differentials between Canada and the US."

Mr. Madani sees commodity prices sinking further, hit by the ongoing financial crisis in Europe, and that Brent crude will fall to $85 a barrel by the end of 2012.

Read Full Article from Globe and Mail

- Posted: 2012-06-26 11:46:04


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