Economist Nouriel Roubini did some Q & A at a conference in Toronto yesterday. He was asked specifically about Canada's economic prospects and the Canadian dollar. Apparently he does not see the Canadian economy fully decoupling from the relapse in US growth now underway (shocking to some, I know). He thinks the Bank of Canada is likely to stop hiking rates for a while as our recovery loses steam; and the Canadian dollar is likely to weaken further with commodities.
Bloomberg has the 15 min clip here.
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Cory’s Chart Corner
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Despite all bearish sentiment, doom and gloom of a double dip, worries about the US economy look at what the market is doing. It's going up and has broken some major resistance to the upside. I will wait until all the talking heads on CNBC and others start changing their tune to a more positive tone and then i will sell into that strength. Business media are good for only one thing. For reading their collective sentiment and then going against it.