Canadian Dollar Weakest Performing Major Currency In 2017

In the wake of a weak economic report showing the worst wage growth since 1997, there’s even more bad news for Canada’s economy.

The Canadian dollar is the worst performing major currency on earth so far this year.

The Loonie is down 1.55% vs the US dollar in 2017.

By contrast, the Mexican Peso is up 10.13%, the British Pound is up 4.95%, and even the Euro is up 2.45%.

Taken together, recent economic data paints a very concerning picture of our economy. Our currency is losing value, wages are low, more people are giving up on entering the job market, and our debt and deficit continue to rise.

The high-tax, high-spending policies of the federal government are not working, and the falling Loonie is a warning sign that confidence in our economy is being lost. Since an economy functions in large part on the confidence of consumers and investors, any loss of belief in Canada’s economic strength can have serious negative consequences.

Add to that the government plans for even higher taxes, and growing trade disputes with the United States, and it is clear Canada’s economy needs a completely new approach to ensure our people can achieve prosperity and financial security.

Spencer Fernando

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Dean WaddleIan SkinnerLouis PaquetteGarry Wells Recent comment authors
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Garry Wells
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Garry Wells

This reportshould open the eyes of all Canadians,to the importance of dumping the Liberal government,time to wake up and admit the Liberal experiment has and will continue to ,a failure.

Ian Skinner
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It won’t, liberals don’t work in reality, they work in emotion; rational thought and reality are rejected, thanks cognitive dissidence.

Louis Paquette
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I bet it heads to 50 cents U.S. by the time his term is done.

Dean Waddle
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Dean Waddle

If I remember right the CDN $ got down to 63 cents against US while Trudumb Senior was in power.