(Business in Vancouver)
There’s no way to sugarcoat it: tanking oil and gold prices – two key commodities for the Canadian economy – are bad news times two, according to analysts.
Crude oil prices are at a three-year low, gold at a 4.5-year low (but for very different reasons). The resource-heavy Toronto stock market and TSX Venture exchanges are being pulled down as a result, and the Canadian dollar last week fell below US$0.88. [...]
That might be good for consumers, who will pay less for gas at the pumps, but low commodity prices are generally bad for a resource-dependent economy, analysts say, although a low Canadian dollar could help offset those low prices for exporters. Read more here.
Related: C$ Weakens with Oil Price as Greenback Rally Restarts (Reuters)