Wow, it looks like it’s for real. Yesterday the Canadian dollar reached parity with the U.S. dollar, and today it stuck. No dead cat bounce here. The last time the dollars were at par, I was in diapers and the oil sands of Alberta were a distant gleam in the eyes of Pierre Elliot Trudeau. As a friend of mine at RBC so eloquently put it, we can now look forward to “Canadians strutting through the streets of Buffalo and Plattsburgh like sheiks with their petrobucks.”
Here are yesterday’s graphs, for posterity:
Watch for continued snapping up of those U.S. real estate assets by international investors. As for me, I’m hanging onto my loonies and twoonies.