The CAD is taking quite the beating, especially since oil crash. The loonie is trading at its 52-weeks low and the mid-market rate is ~$1.32 USD/CAD. That means that $1 US dollar gives you $1.32 Canadian and one CAD will give you about US$0.76. Again that’s the mid-market quote, so you probably get less when you are buying at the exchange dealer. This is what happens when we are a commodity linked currency.
The winners is the exporting sector which has been choking from the high CAD for quite a while. The loonie crash is a gift for them. Their cost are in CAD and they sell in USD, pocketing the difference. The other clear winners are American tourists coming to Canada. Spending some hard currency should beneficial to the country. The losers are the Canadian tourists and the importing sectors. Consumers also takes a beating since we consume a lot of American goods which will be priced higher. A year ago on the app store, a $1 app was $1. Last time they raised it to $1.19 for an app and I’m sure they will raise it again.
This should not be surprising. The Canadian economy is in a technical recession (two quarters of negative growth) and the outlook is gloomy. The US economy is growing. Canadian interest rates are trending downward while the Fed is looking at when they will hike their rate. Where is it going next? Who knows. In my opinion I expects more up and downs but wouldn’t bet on a quick recovery to par.