# What Scotiabank is telling clients about the (soon-to-lose-a-nickel) loonie - The Globe and Mail

> Scotiabank still expects the Canadian dollar to fall below 71.5 US cents by mid-2017 from about 76.5 cents. Its strategists say the loonie's historical link to crude oil is weaker than the petro-currency narrative suggests.

- Date: 2017-02-16 · published 2017-02-16T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/72725-what-scotiabank-is-telling-clients-about-the-soon-to-lose-a-nickel-loonie-the
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A weaker loonie makes Canadian exports cheaper and can support Canadian feed and grain competitiveness. The forecast also signals that oil-linked currency moves may be less reliable for pricing Canadian commodity exposure.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/report-on-business/top-business-stories/what-bank-of-nova-scotia-is-telling-clients-about-the-soon-to-lose-a-nickel-canadian-dollar/article34043166/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.