The Canadian Dollar (at time of writing) $1 US = $1.46 CAN… Oil is down to $28.25 US a barrel (overproduction perhaps) and China’s economy is still strong, however slower than it had been. Less demand for Canadian raw materials (Iron, Oil, Aluminum, Potash, forestry etc..) in China and elsewhere has caused this big drop in our dollar and a slowdown in our economy. On the positive side, the financial markets at lower valuations are still providing plenty of opportunities for fund managers to pick up shares of great companies that are trading at prices lower than their real value… This is not the time to panic, but to take advantage of the low market prices going forward (remember buy LOW sell HIGH)… It’s an excellent time to top off your RRSP or add to your TFSA account. Contact me to set up an appointment to review your portfolio.
Stephen J. Hall,
Financial Security Advsior