Question

What do you think will happen to Canada's currency in relation to the US dollar in the future? Support your answer. If your prediction does come true, what will this mean for Canada's GDP?

Make at least 2 paragraphs.

Answer 1

USD/CAD united state dollar versus canadian dollar .Trading of united state dollar versus canadian dollar known as loonie.canada economy is 9th largest economy in the world.During pandemic inspite of having various ups and down in the candian currency now its expected candian dollar will not as much stronger in the future because oil's price is increasing drastically where as US dollar getting strength.

It is estimated candian dollar will drop down 70 cent as comparison to us dollar.It is analysed that until Russia and saudi arabia will not control the supply of oil in the market ;There is a flood of oil in the market as a result price of the canadian dollar will keep fluctuating It is estimated that it can be fluctuate around 67 to 68 cents.

Uncertainity of candian dollar leads to movement of borrower and investor of world towards US dollar.where as candian farmers will enjoy the down value of loonie because candian farmers has to sell crops in US dollars that is stronger as comparison ro CAD.