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Economy

Canada's dollar is sliding south

Money
Steve Carmody
/
Michigan Radio

There was a time when you'd see plenty of cars with Ontario plates parked at shopping centers and stores in Southeast Michigan.

That's because the Canadian dollar was so strong against the American dollar.

Our Canadian neighbors had some pretty hefty buying power when they crossed the Ambassador or Blue Water Bridges into Michigan.

Well, times have changed.

Forecasters are tracking a slide in the loonie.

Sal Guatieri is a senior economist at BMO Capital Markets, the investment banking subsidiary of the Bank of Montreal. 

He spoke with Stateside host Cyndy Canty about why this is happening and what it means for economies on both sides of the border.