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The Canadian dollar is slumping and gold prices are surging. FP Video looks at these topics and more.
Canadian dollar could sink to 50 cents decade from now
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Jean-François Tardif, founder of Timelo Investment Management, speaks with Financial Post’s Larysa Harapyn about how the 2024 federal budget could impact the Canadian economy. Tradif warns that Canada’s lagging productivity could drag down the Canadian dollar over the next decade.
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Gold could go as high as US$3,000
John Ciampaglia, chief executive at Sprott Asset Management, talks about how gold has decoupled from its usual drivers as central banks in the east snatch up the yellow metal.
How Canada, Ontario got it right with the Honda deal
With news that Canada has reached a deal with Honda Motor Co. Ltd. for a multi-billion EV complex, Dr. Greig Mordue, associate professor at McMaster University, explains how past deals were too expensive and how it looks like this time governments got it right.
Ottawa’s moves to ease housing crisis
Robert Hogue, assistant chief economist at Royal Bank of Canada, explains how initiatives in the federal budget 2024 will help ease the country’s housing affordability crisis, but a solution will take years.
For more on the federal budget, watch:
Full coverage of the Federal Budget here
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Currency & Commodity Market Insights
The forecast of the Canadian dollar potentially sinking to 50 cents within the next decade is a concerning development for the Canadian economy. Historically, a weaker currency can have both positive and negative effects on a country’s economic performance. While it may boost exports due to increased competitiveness, it can also lead to higher import costs, resulting in inflation.
Gold Outlook
The surge in gold prices, with predictions of reaching as high as US$3,000, indicates a shift in the market dynamics for this precious metal. Central banks in eastern countries increasing their gold reserves suggests a reevaluation of traditional drivers for gold prices. This trend could have implications for investors and financial markets globally.
Impact of Government Deals
The recent agreement between Canada and Honda for an electric vehicle complex highlights the importance of strategic government deals in fostering economic growth. Learning from past expensive ventures, governments need to strike a balance between incentives for corporations and long-term benefits for the economy. This successful deal could serve as a model for future collaborations to drive innovation and sustainability.
Housing Affordability Solutions
Efforts by the government to address the housing affordability crisis are commendable, but the impact may take years to be fully realized. Initiatives outlined in the 2024 federal budget aim to alleviate the pressure on housing markets, but a comprehensive solution requires long-term planning and implementation. Stakeholders must work together to ensure sustainable housing options for all Canadians.
