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TRUCKING INDUSTRY COMMENT * USA/Canada - Exchange rate having significant impact on exports, trucking
Parity of the Canadian loonie relative to the U.S. dollar is further depressing manufacturing activity in eastern Canada and, in turn, reducing export levels and the demand for cross-border truckingToronto,Ont,CAN -Today's Trucking -3 Oct 2007: -- ... That was the overwhelming message delivered at RBC's recent Annual Transportation Conference by large truckload carriers, railways, logistics firms, and shippers... Last week, the Canadian dollar reached parity with the U.S. greenback for the first time in 31 years. According to a follow-up report by RBC, about one third of the variability of export levels is explainable by the exchange rate... At first glance, one third may not sound like a significant figure, notes RBC, but with a very large number of factors affecting exports levels -- taxation differentials, tariff levels, relative consumer spending power, commodity prices -- one third of the total variance represents a relatively large portion, if not the most significant factor, affecting exports... (Photo: Some niche sector carriers are better insulated from the higher Canadian dollar)
Labels: trucking industry comments
posted by Unknown @ 7:18 AM
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