Mimi Ge, what you think of this?
Just read a report from CIBC. With Yen weakness, lots of money are flushing into Canadian fixed income, keeping our dollars up. They think CAD is over valued by 10%. At the mean time, US is going to depend a lot less on Canadian Oil Sand, and Canada only account for 25% of energy investment, while in 2000, 50%.
Now Bank of Canada are going to speculate cutting interest rates to make CAD less attractive. If not cutting, they are going to revise what they were saying before. Instead the new tone is that we are not going to raise the rates any time soon.