Kevin Headland of Manulife Investments
"Historically, over the long term, it has mostly been the direction of oil prices that has driven the Canadian Dollar vis-à-vis the U.S. Dollar, thus earning its nickname, the Petro Loonie. However, recently we have seen that relationship start to fade in favor of the amount of the interest rate differential (spread) between the Canadian and U.S. 2-year yields."
** I have prepared this commentary to give you my thoughts on various investment alternatives and considerations which may be relevant to your portfolio. This commentary reflects my opinions alone, and may not reflect the views of National Bank Financial Group. In expressing these opinions, I bring my best judgment and professional experience from the perspective of someone who surveys a broad range of investments. Therefore, this report should be viewed as a reflection of my informed opinions rather than analyses produced by the Research Department of National Bank Financial **