About half of the forecasts in a WSJ survey are for a premium for the Canadian dollar in 2011
Former CIBC economist Jeff Rubin believes that oil will be in the $100-200 per barrel range. Canada’s huge oil reserves would then cause the Canadian dollar soar to a 20% premium to the U.S. dollar. The dollar will probably not reach that level in 2011, but over the next few years.
UBS’s Berry’s view is that the Canadian dollar will outperform on the cross currency exchanges. He added the U.S. economy’s impact on Canada was similar to that of China’s on Australia.