The Loonie’s flirtation with 80 cents to the U-S buck is likely to be short lived.
DeGroote School of Business Professor Marvin Ryder says an oil strike in Kuwait is over and the world price for oil is likely to drop soon and with it the Canadian dollar.
Ryder says a low Loonie can be good for the overall Canadian economy by making it cheaper for industries like the car sector to do business here.
He thinks the dollar to drop to 75 or 76 cents U-S.
While a lower Loonie makes cross border shopping less attractive, it keeps manufacturing jobs in this country.