Loonie slides to nearly a 5-year low

|By:, SA News Editor

Canadian GDP rose an inline 0.2% in November - the 5th consecutive month of growth and up 2.6% Y/Y - but it's not halting the slide in the loonie (FXC) which is now down 0.5% and buying just $0.8916, the lowest amount since the summer of 2009.

The Canadian unit has been in a bear market since the start of 2013, with the move accelerating in the past few months amid a string of weak economic data and plenty of government types saying they're welcoming of the move. A general move out of emerging currencies spreading to commodity currencies is further speeding the decline in 2014.

Canada ETFs: EWC, CNDA, FCAN, EWCS