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The loonie might go as low as 70 cents to the U.S. dollar in 2017, according to experts.
Right now it’s around 73 cents, a 14-month low.
The fall of the loonie is tied to the same old things: a strong period for the U.S. economy, interest rate hikes by the U.S. Federal Reserve, and oil prices that are expected to stay low.
However, business in the U.S. isn’t doing amazing: This week, the U.S. PMI was below the forcast level, and construction spending contracted very slightly.
Meanwhile, Canadian manufacturing is doing well. Their PMI reported a 6-year high this week.