Economists at CIBC World Markets are looking for more on the downside for the Canadian dollar
Forecasting to bottom in Q1 of 2017, with CAD under 72 US cents (so, top for USD/CAD approx. 1.39) &
- Say government policy is starting to lean against a further housing boom
- Consumer indebted and their contribution to the economy is stretched
Stronger exports have failed to materialize: -"oil prices still too tepid"
- The shift to non-energy exports and related capital spending ... "Disappointments on that front"
- Have only exacerbated that trend to a softer loonie."
Further out, CIBC expect the USD/CAD to average around 1.37
