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  • TD bank predicts loonie may fall to 71 cents US as Canadian dollar's outlook shifts 'considerably'

    From cbc.ca

    A strong start to the year for the Canadian dollar rising 3.5 per cent against the greenback in the first two monthsafter a nearly eight per cent drop in value last yearhad many wondering if this was the year the looniewouldstagea comeback. But, since the start of March, the Canadian dollarhas fallen1.3 per cent against the U.S. dollar asprospects for the Canadian economy have also dimmed. Grossdomestic product (GDP) contracted0.1 per cent in January, following a deeper than anticipated slowdown thatin the second half of last year. Strategists at TD Securities say the Canadian economy has a "real problem on its ... (full story)