Ottawa » Tor Jan 20, 2011 7:04 pm
OTTAWA — The loonie surged ahead of the U.S. dollar as 2010 wound down, and a leading economist says it'll probably stay there most of this year.
"We believe that the Canadian dollar is likely to remain firm through 2011, with further gains still possible if commodity prices continue to forge ahead," Douglas Porter, deputy chief economists with BMO Capital Markets, said Thursday.
That's good news from some and bad news for others. BMO said industries likely to benefit from the continued strength of the Canadian dollar include utilities, broadcasters, sports teams and some retailers. Those hurt would be in manufacturing, tourism and some resource industries.
Read more:
http://www.montrealgazette.com/business ... z1BbFy35ffhttp://www.montrealgazette.com/business ... story.htmlOTTAWA — The loonie surged ahead of the U.S. dollar as 2010 wound down, and a leading economist says it'll probably stay there most of this year.
"We believe that the Canadian dollar is likely to remain firm through 2011, with further gains still possible if commodity prices continue to forge ahead," Douglas Porter, deputy chief economists with BMO Capital Markets, said Thursday.
That's good news from some and bad news for others. BMO said industries likely to benefit from the continued strength of the Canadian dollar include utilities, broadcasters, sports teams and some retailers. Those hurt would be in manufacturing, tourism and some resource industries.
Read more: http://www.montrealgazette.com/business/Loonie+above+parity+2011/4137744/story.html#ixzz1BbFy35ff
http://www.montrealgazette.com/business/Loonie+above+parity+2011/4137744/story.html
