Over the last five years, the Canadian Dollar has slowly
climbed to parity against the USD, finally reaching the mythical 1:1 exchange
rate last week. Canadian shoppers and
American tourists have taken notice, gradually adjusting their behavior in
accordance wit their changing purchasing power. For many Canadians, this has translated into more frequent shopping
trips across the border, whether for gasoline or for clothing. For Americans, this has resulted in a decline
in the number of tourists visiting Canada. It is also slowly redefining the US-Canada
trade dynamic. However, as Canada has become the United
States’ largest supplier of oil, it is likely Canada that will
benefit most in this relationship. The
New York Times reports:
The weakness of the American dollar worries some Canadian
investors as well as businesses that rely on American customers.
Read More: Currency
Parity Brings Canadian Shoppers South
Original post by Jimmy Atkinson and software by Elliott Back
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