Bank of Canada - Recession is over, growth returning to economy

[Kassz007]

http://ca.news.finance.yahoo.com/s/...-says-recession-growth-returning-economy.html

Bank of Canada is predicting the recession to essentially be over in Canada and expects the economy to bounce back twice as strong as the USA.

Q3 expected growth = 1.3% annualized
Q4 expected growth = 3.0% annualized

Get long Canadian banks before it's too late!

 

[Kassz007]

Rising loonie poses a problem, however. Any FOREX junkies care to enlighten me on a USD/CAD prediction through the end of 2009?

 

[Thunderdog]

Quote from Kassz007:

...Any FOREX junkies care to enlighten me on a USD/CAD prediction through the end of 2009?

Time/price predictions can be many things. Enlightening is probably not one of them.

 

[Kassz007]

Quote from Thunderdog:

Time/price predictions can be many things. Enlightening is probably not one of them.

True enough. But still fun to ponder nonetheless.

 

[usedtowork]

The strength of Canada's economy comes from being a net exporter of goods.

Our largest trading partner (the USA) is on the ropes economically, with no real recovery in sight despite what the DOW reads.

Worldwide demand for our products is similarly nowhere.

I just don't see it, not in the next 12 months anyway.

 

[niceneasy]

agreed. B of C is talking shit.

 

[PragmaticIdeals]

Quote from Kassz007:

Rising loonie poses a problem, however. Any FOREX junkies care to enlighten me on a USD/CAD prediction through the end of 2009?

Rising loonie is only a problem for Ontario... It's not bad for the rest of Canada.

 

[Kassz007]

Quote from PragmaticIdeals:

Rising loonie is only a problem for Ontario... It's not bad for the rest of Canada.

Yes, which makes up the majority of Canada's economy...

 

[Martinghoul]

Quote from Kassz007:

Rising loonie poses a problem, however. Any FOREX junkies care to enlighten me on a USD/CAD prediction through the end of 2009?

1.1205, according to one of the models I have seen...

 

[Kassz007]

Quote from Martinghoul:

1.1205, according to one of the models I have seen...

Now that's a number we could live with. Any less than 1.1 stings in Ontario. Except for cross border shopping raids of course.