Listener Q&A episode
The New Bazaar
Canadian Dollar
Canadians mostly buy goods and services that are priced in canadian dollars. In other words, almost all the divergence you're seeing in canadian and us. G d p is a function of exchange rates more than anything else. The price of oil from canada's tar sands went from about 36 us. Dollars a barrel in two thousand five to a peak of 78 us. Dollars a barrel in 20 11. Since then, canadian oil prices have been stuck around 30 to forty us. Dollar a barrel. That put a lot of pressure on the canadian dollar.
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