Canadian economy 'decoupling' from U.S. ($1 = $1.07 U.S.)

Source: The Globe and Mail

The rocket-propelled Canadian dollar flew past $1.07 (U.S.) Friday, fuelled by strong economic data that have many forecasters wondering whether the economy is decoupling from its troubled southern neighbour.

Canada churned out five times more jobs than expected last month, a stellar showing that sparked a number of forecasts that the loonie is on its way to $1.10, as the greenback continues to dive.

... "We had thought that if the U.S. economy slowed down, the global economy would probably slow down, and that doesn't seem to be panning out as much as people thought," said David Watt, senior currency strategist at RBC Capital Markets.

"If the currency is, to an extent, decoupling from the U.S., then it makes sense to come out with a Canadian dollar forecast which pays less relevance to the U.S. economy."

(Finance Minister Jim) Flaherty said that decoupling is a strong word, but there has been an increase in the differences between the Canadian and U.S. economies.

Read more: http://www.reportonbusiness.com/servlet/story/RTGAM.20071103.wdollar03/BNStory/robNews/home

I'd say that our economies have been headed in different directions since Boosh took office.

Sid

Oh wait.. You pay for health care for ALL the people...nevermind

As in, traveling at different speeds, no longer joined at the hip.

I guess..

I think...?

to turn the hose on us like dogs doin' it in your front yard:(

We're not out of the woods yet either

So maybe the US is irrelevant after all.

One thing's for sure, the "North American Union" is a load of hogwash at this juncture.