| The Canadian dollar is threatening to worst levels since May 2020 in what would be a major range breakout. Aside from brief periods during covid and the oil price collapse in 2016 (both less than a month long), this would be the lowest level since 2003. I expect this period of weakness to be longer lasting as the three legs of the Canadian economy – housing, immigration and resources extraction – are all impaired. Adam Buitton, chief currency analyst at ForexLive, speaks with BNNBloomberg about why the loonie is headed to 1.45. |
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