My jaw dropped this morning at the Globe and Mail headline; “Loonie moves lower, markets nervous ahead of Crimea referendum” are you kidding me what possible impact can this have on our loonie?
According to The Embassy of Ukraine to Canada bilateral trade for 9 months of 2012 totaled 344,3 million USD and decreased comparing to the same period of 2011 by 9,1%. Import of goods and services to Ukraine (from Canada) decreased by 13,3% and totalled 159,6 million USD. ://canada.mfa.gov.ua/en/ukraine-%D1%81%D0%B0/trade
So a country in which we ship $159.M USD dollars of goods to a year and purchase 184,7 million USD from is impacting our currency.
Let me know if any of you can make sense of this.