TORONTO - Experts say the next few months are going to be rough for the Canadian dollar as it continues its downward trend.
Corpay chief market strategist Karl Schamotta says it's likely the Canadian dollar could fall further.
Schamotta predicts the coming months will be "a very turbulent period for Canada" as incoming U-S president Trump's tariff threats weigh on business investment and consumer confidence.
With the Canadian dollar trading around 69 cents U-S lately, Schamotta predicts more declines in the early months of next year before the loonie firms up again in the second half of 2025.
The stronger U-S economy and widening differential in monetary policy between the Bank of Canada and the U-S Federal Reserve are also factors.
Schamotta says that means the Canadian dollar is much less attractive to global investors.