The Canadian dollar keeps gaining against the US dollar. It is now at 94 cents, from the historic low of 61.70 in January 2007. A stronger Canadian dollar is good for Canadians when shopping across the border, be it online or in person, or when vacationing in the USA. However, it is not good for Canada's economy as a whole. Our trade is 80% with the US, and exports will suffer if the Canadian dollar is high.There has already been a huge amount of job losses in the manufacturing sector this year, 52,000 from January to May. Of course, part of the problem is a weaker US dollar, in part due to adventurism in Iraq and the cost of the war.Perhaps this will change when a democrat is elected for President in 2008. One can only hope.
- Nokat نكت