Much Ado about Soaring Loonie

Like a runaway freight train, the Canadian dollar has been on a seemingly unstoppable run towards parity with the U.S. Dollar and perhaps beyond. The Canadian Dollar at parity has far-reaching ramifications both for investors as well as Canadian businesses and in particular the manufacturing sector.

But we’ve been here before. The Canadian Dollar has touched parity several times only to retreat back to its ‘normal’ level sitting comfortably a couple of dimes below the U.S. greenback. However, this time it feels different. With the U.S. economy still getting its bearings post-recession and so much downward pressure on the U.S. Dollar, there seems to be growing sentiment that the Canadian Dollar may be headed for an extended and/or permanent stay North of the U.S. Dollar.

Ontario manufacturers need to adapt permanently, not just brace themselves, for a loonie that’s higher than the U.S. dollar.

While the manufacturing sector will take its fair share of bumps and bruises, there are opportunities for Canadian investors to capitalize off the Loonie’s rapid rise. Here is a great video that talks about what our dollar at parity means for investors and more importantly, what you can do to take advantage of it.

The Canadian Dollar at Parity on Video.ca

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