TORONTO - The Canadian dollar fell more than a cent to
close at a multi-year low Tuesday as the greenback shot higher on data
showing the U.S. trade deficit fell in November to its lowest level in
four years.
The greenback also strengthened a day before the release of the minutes from the Federal Reserve meeting last month.
The loonie lost 1.05 cents to
92.83 cents U.S., its lowest close since early November 2009. The
currency was further pressured by data showing Canada's trade deficit
worsened slightly in November, rising to $940 million from $908 million
in October.
The U.S. trade gap dropped 12.9 per cent to US$34.3 billion in
November as exports rose 0.9 per cent, aided by a 5.6 per cent rise in
petroleum exports. Imports dropped 1.4 per cent.
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Arch Crawford
has made some amazing calls over the years. By his own admission, he’s
not batting a thousand. Sometimes a call in one area winds up being
correct in another. When you’re dealing with the stars and the future,
everything is always uncertain. But he sees certain similarities to
other years when big crashes have taken place and he believes that
sometime before 2015, perhaps in October, the big one is bound to
happen. This will probably be good for gold and silver too, so you might
want to stock up.
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