Canadian Dollar Could Hit $1.05 to $1.07 US By Years End

October 16th, 2007

Its no secret that the Canadian economy is doing quite well in spite of losing many manufacturing jobs due to the falling USD. Over the last several years the Canadian dollar has shown a lot of strength, up 60+% versus the USD. The Canadian dollar is also loosely tied to the resource sector, with the vast resources contained within Canada and the importance they now play on the Canadian economy.

I’m going to make a bold claim… I think the Canadian Dollar could hit $1.05 to $1.07 US by years end! It currently sits at $1.02 US at the moment. Time will tell if I’m right or not and we will know in 2.5 months.

Many investors are beginning to think now is a great time to buy USDs. I do NOT concur! The same fundamentals which have caused the USD to sink this far haven’t changed one bit and until they do this trend will continue and worsen.

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1. Canadian Dollar Hits $1.0&hellip | November 5th, 2007 at 6:37 pm

[…] to the $1.05 to $1.07 U.S. range by the end of the year. I was right. I wrote the article “Canadian Dollar Could Hit $1.05 to $1.07 U.S. By Years End on October 16th, 2007. Interesting how quickly things change and it didn’t take very long at […]