The Canadian dollar is slumping and gold prices are surging. FP Video looks at these topics and more.
Canadian dollar at Risk of Decline
Jean-François Tardif, founder of Timelo Investment Management, warns about the potential for the Canadian dollar to sink to 50 cents over the next decade due to Canada’s lagging productivity. This issue could have significant implications for the country’s economy in the long run.
Potential Surge in Gold Prices
John Ciampaglia, chief executive at Sprott Asset Management, discusses the unprecedented situation where gold prices have decoupled from their traditional drivers, with central banks in the east aggressively acquiring the precious metal. He suggests that gold could reach as high as US$3,000 in the future.
Success of Canada-Ontario Deal with Honda
Dr. Greig Mordue, an associate professor at McMaster University, praises the recent multi-billion-dollar deal between Canada and Honda Motor Co. Ltd. for an EV complex, highlighting how past agreements were costly and inefficient. This successful deal signifies a step in the right direction for economic partnerships and innovation in the region.
Efforts to Address Housing Crisis
Robert Hogue, assistant chief economist at Royal Bank of Canada, explains the initiatives outlined in the federal budget 2024 aimed at alleviating Canada’s housing affordability crisis. While these measures are a positive step, Hogue notes that achieving a comprehensive solution will require sustained efforts over several years.
For more details on the federal budget, watch:
Full coverage of the Federal Budget here
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