Moreover, even experts that produce a Canadian dollar forecast are wrong so many times. The other problem is that so many of the people that produce a forecast are not always right. The problem is that there are so many forecasts out there and anyone can produce a forecast. Moreover, with the US Federal Reserve, if they are looking to raise interest rates in the USA, the US dollar could get stronger as a result. Jay z ft pharrell so ambitious mp3 download If interest rates are low, then sometimes the Canadian dollar will be weak as a result. The Canadian stock market has a lot of companies that are invested in commodities and oil, and therefore the TSX and the Canadian dollar can often move in the same direction because of the natural reserves in commodities and oil that Canada has. This is one of the main reasons why the Canadian dollar is low at the moment. When oil prices started to fall, the Canadian dollar started to fall, and the falling oil prices has now impacted the Canadian economy and the Canadian job market. The Canadian dollar is often called a petrocurrency because of all the oil Canada has in its reserves.Īs a result, the Canadian economy was strong and oil prices were strong.Īll of a sudden, oil prices fell sharply, largely due to excess supply. ![]() Namely, oil prices, commodities, the stock market, global growth.
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