The best news of the day: the Canadian dollar is now worth less than the US dollar

  • September 9, 2021

Canada is in a very strong position to benefit from Donald Trump’s economic policies, according to a new study from CIBC World Markets.

In a statement, the bank said the country has the world’s lowest unemployment rate, and its trade surplus is among the world top five, and is “well positioned to benefit” from Trump’s policies.

The country has seen a sharp drop in the price of oil and oil-related exports, which is expected to be offset by increased demand from China.

But CIBC is also projecting a “slight but significant reduction” in the value of the Canadian currency, which the bank says could be worth as little as 0.1 per cent of the dollar.

That’s not quite a negative outcome, however, as the country’s currency is currently trading at $1.1934.

“This is an excellent sign for Canadian economic growth, given the strong recovery in both the oil and gas sector,” the bank’s Mark Tracey said in a statement.

“The global outlook is bright and we expect that this strengthening will help us to grow our gross domestic product by more than 3 per cent over the next few years.”

It’s been a rough year for the Canadian economy, with the Canadian auto industry reporting a 25 per cent drop in sales in the second quarter of 2017.

And the government’s new trade deals with Europe, Japan and Australia are expected to further hurt Canadian exports.

Canada has already experienced some negative impacts from the TPP talks, which could hurt the country even further, according the bank.

It said that the Trump administration’s actions on immigration and healthcare could “have negative consequences” for Canada’s economic performance.

Read more: Read more about the Trump Administration and the economy: ┬áRead more about Canada’s financial market situation: